undrew Industries is contemplating issuing a 30-year bond with a coupon rate of 6.75% (annual coupon payments) and a face value of $1,000. Andrew believes it can get a rating A from Standard and Poor's. However, due to recent financial difficulties at the company, Standard and Poor's is waming that it may downgrade Andrew Industries bonds to BB. Yields on A-rated long-term bonds are currently 6.25%, and yields on BBB-rated bonds are 6.65%. What is the price of the bond if Andrew maintains the A rating for the bond issue? What will the price of the bond be if it is downgraded? What is the price of the bond if Andrew maintains the A rating for the bond issue? he price of the bond maintaining the A rating is $. (Round to the nearest cent.) What will the price of the bond be if it is downgraded? he price of the bond if it is downgraded will be $ (Round to the nearest cent.)