Question: Problem 6-6 Bond Prices [LO 2] App Store Co. issued 16-year bonds one year ago at a coupon rate of 6.2 percent. The bonds make

Problem 6-6 Bond Prices [LO 2]

App Store Co. issued 16-year bonds one year ago at a coupon rate of 6.2 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).)

Current bond price

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