Three years ago, JKL Co. issued bonds with a 14-year maturity then and at a...
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Finance
Three years ago, JKL Co. issued bonds with a 14-year maturity then and at a coupon rate of 9.6 percent. The bonds make semiannual payments. If the YTM on these bonds is 9.7 percent, what is the current bond price? (Do not include the dollar sign ($). Enter rounded answer as directed, but do not use the rounded numbers in intermediate calculations. Round your answer to 2 decimal places (e.g., 32.16).)
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