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Luther Industries needs to raise $25 million to fund a new office complex. The company plans on issuing 10-year bonds with a face value of $1 000 and a coupon rate of 7.0% (annual payments). The following table summarises the YTM for similar 10-year corporate bonds of various credit ratings:

-Assuming that Luther's bonds receive a BBB rating, the price of the bonds will be closest to:

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Luther Industries needs to raise $25 million to fund a new office complex. The company plans on issuing 10-year bonds with a face value of $1 000 and a coupon rate of 7.0% (annual payments). The following table summarises the YTM for similar 10-year corporate bonds of various credit ratings:
 
-Assuming that Luther's bonds receive a BBB rating, the price of the bonds will be closest to:

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Luther Industries needs to raise $25 million to fund a new office complex. The company plans on issuing 10-year bonds with a face value of $1 000 and a coupon rate of 7.0% (annual payments). The following table summarises the YTM for similar 10-year corporate bonds of various credit ratings:
 
-Assuming that Luther's bonds receive a BBB rating, the price of the bonds will be closest to:

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