Question: Union Local School District has a bond outstanding with a coupon rate of 3.5 percent paid semiannually and 13 years to maturity. The yield to

Union Local School District has a bond outstanding with a coupon

Union Local School District has a bond outstanding with a coupon rate of 3.5 percent paid semiannually and 13 years to maturity. The yield to maturity on this bond is 2.5 percent, and the bond has a par value of $10,000. What is the price of the bond? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) Price

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