Question: Problem 6-17 Valuing Bonds [LO 2] Union Local School District has bonds outstanding with a coupon rate of 3.2 percent pald semiannually and 16 years

Problem 6-17 Valuing Bonds [LO 2] Union Local School District has bonds outstanding with a coupon rate of 3.2 percent pald semiannually and 16 years to maturity. The yleld to maturity on these bonds is 3.7 percent and the bonds have a par value of $5,000. What is the dollar price of the bonds? (Do not round Intermediate calculations and round your answer to 2 decimal places, e.g. 32.16.) Bond price

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