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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 84 basis points (0.84%).

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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 84 basis points (0.84%). Your firm's five-year debt has an annual coupon rate of 5.8%. You see that new five-year Treasury notes are being issued at par with an annual coupon rate of 2.2%. What should be the price of your outstanding five-year bonds? Assume $1,000 face value. Assuming a $1,000 face value, the price of the bond is $ (Round to the nearest cent.) C

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