Question: Please help to solve for problem b below with break-down. If there is a method in excel to figure out the formula, please inform. Pybus,

Please help to solve for problem b below with break-down. If there is a method in excel to figure out the formula, please inform.

Pybus, Inc. is considering issuing bonds that will mature in 17 years with an annual coupon rate of 6 percent. Their par value will be $1,000, and the interest will be paid semiannually. Pybus is hoping to get a AA rating on its bondsand, if itdoes, 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 Arating, the yield to maturity on similar A bonds is 10 percent. What will be the price of these bonds if they receive either an A or a AArating?

a. The price of the Pybus bonds if they receive a AA rating will be $

741.30

b.The price of the Pybus bonds if they receive an A rating will be _____

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