Question: Langford Co . issued 1 4 - year bonds a year ago at a coupon rate of 7 . 2 % . The bonds make

Langford Co. issued 14-year bonds a year ago at a coupon rate of 7.2%. The bonds make semiannual payments. If the YTM on these
bonds is 5.5%, what is the current bond price? (Do not round intermediate calculations. Round the final answer to 2 decimal places.
Omit $ sign in your response.)
Current bond price $
*Please explain it with details, I want to understand. Thank you.
Langford Co. issued 14-year bonds a year ago at a coupon

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