What should be the current market price of the bonds, Financial Accounting

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What should be the current market price of the bonds

Problem

Bigby Balloons Inc. has bonds outstanding that mature in 22 years and have a 9.0% coupon rate. The bonds have a par (face) value of $1,000 and pay interest annually. The bonds have a yield to maturity (YTM) of 6.4% (this is current market interest rate for similar bonds). What should be the current market price of the bonds?

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Financial Accounting: What should be the current market price of the bonds

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Financial Accounting: What should be the current market price of the bonds

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