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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 85 basis points (0.85%). Your

image text in transcribed Your firm has a credit rating of A. You notice that the credit spread for five-year maturity A debt is 85 basis points (0.85%). Your firm's five-year debt has a coupon rate of 6.0% with semi-annual coupons. You see that new five-year Treasury notes are being issued at par with a coupon rate of 2.0%. 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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