What will be the price of these bonds if they receive


Pybus, Inc. is considering issuing bonds that will mature in 16 years with an annual coupon rate of 11 percent. Their par value will be ?$1,000?, and the interest will be paid semiannually. Pybus is hoping to get a AA rating on its bonds? and, if it? does, the yield to maturity on similar AA bonds is 10.5 percent. ? However, Pybus is not sure whether the new bonds will receive a AA rating. If they receive an A? rating, the yield to maturity on similar A bonds is 11.5 percent. What will be the price of these bonds if they receive either an A or a AA? rating? a. The price of the Pybus bonds if they receive a AA rating will be ? ? (Round to the nearest? cent.)

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Financial Management: What will be the price of these bonds if they receive
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