(Related to Checkpoint 9.3) (Bond valuation) Pybus, Inc. is considering issuing bonds that will mature in 19 years with an annual coupon rate of 11 percent Their par valse 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 9 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 Abonds is 10 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 5 Round to the nearest cent

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