The yield to maturity for 25-year bonds is as follows for four different bond rating categories. AAA 9.20% A 10.00% AA 9.40 BBB 10.40 The bonds of Falter Corporation were rated as AAA and issued at...

The yield to maturity for 25-year bonds is as follows for four different bond rating categories.

The bonds of Falter Corporation were rated as AAA and issued at par a few weeks ago. The bonds have just been downgraded to AA. Determine the new price of the bonds, assuming a 25-year maturity and semiannual interest payments. Assume the par value of the bonds is $1,000.(Use a Financial calculator to arrive at the answers. Round the final answer to 2 decimal places.)

Price of the bonds

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