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The yield to maturity for 25-year bonds is as follows for four different bond rating categories. Use Appendix B and Appendix D for an approximate

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The yield to maturity for 25-year bonds is as follows for four different bond rating categories. Use Appendix B and Appendix D for an approximate answer but calculate your final answer using the formula and financial calculator methods. Aaa Aal Aa2 3 8.60% 8.80% 10.00% 10.20% The bonds of Falter Corporation were rated as Aaa and issued at par a few weeks ago. The bonds have just been downgraded to Aa2. Determine the new price of the bonds, assuming a 25-year maturity and semiannual interest payments. (Do not round intermediate calculations and round your answer to 2 decimal places.) Price of the bonds

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