Question: Do not use ai, i will down vote Many years ago, Castles in the Sand Incorporated issued bonds at face value at a yield to

Do not use ai, i will down vote

Many years ago, Castles in the Sand Incorporated issued bonds at face value at a yield to maturity of 8.2%. Now, with 7 years left until the maturity of the bonds, the company has run into hard times and the yield to maturity on the bonds has increased to 15%. What is now the price of the bond? (Assume semiannual coupon payments.) Note: Do not round intermediate calculations. Round your answer to 2 decimal places.

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