Question: App Store Co. issued 16-year bonds one year ago at a coupon rate of 7.7 percent. The bonds make semiannual payments. Required: If the YTM

App Store Co. issued 16-year bonds one year ago at a coupon rate of 7.7 percent. The bonds make semiannual payments.

Required:

If the YTM on these bonds is 5.4 percent, what is the current bond price? (Do not round intermediate calculations. Round your answer to 2 decimal places (e.g., 32.16).)

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