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Your firm has a credit rating of A.  You notice that the credit spread for five-year maturity...

Your firm has a credit rating of A.  You notice that the credit spread for five-year maturity A-debt is 85 basis points (i.e. 0.85%). Your firm’s five-year debt has a coupon rate of 6%. Coupon payments are made every six months. You see that new five-year Treasury notes are being issued at par with a coupon rate of 2.0%.  What should the price of your outstanding five-year bonds be per $100 of face value?

(Round up your answer to the nearest two decimal points)

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