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Your firm has a credit rating of A . You notice that the credit spread for five - year maturity A debt is 9 0

Your firm has a credit rating of A. You notice that the credit spread for five-year maturity A debt is 90 basis
points (0.90%). Your firm's five-year debt has a coupon rate of 6.3% with semi-annual coupons. You see that
new five-year Treasury notes are being issued at par with a coupon rate of 1.6%. What should be the price of
your outstanding five-year bonds per $100 face value.
The price of the bond is $.(Round to the nearest cent.)
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