Problem $8-9$ Valuing Bonds

Union Local School District has bonds outstanding with a coupon rate of $4\mathrm{.}4$ percent

paid semiannually and $19$ years to maturity. The yield to maturity on these bonds is $3\mathrm{.}7$

percent and the bonds have a par value of $$5,000.$ What is the dollar price of the bond?

$($Do not round intermediate calculations and round your answer to $2$ decimal places,

e$.$g$.,32\mathrm{.}16.)$

Bond price