Use the information for the question(s) below.
Luther Industries needs to raise $25 million to fund a new office complex.The company plans on issuing ten-year bonds with a face value of $1000 and a coupon rate of 7.0% (annual payments) .The following table summarizes the YTM for similar ten-year corporate bonds of various credit ratings: 
-Suppose that when these bonds were issued,Luther received a price of $972.42 for each bond.What is the likely rating that Luther's bonds received?
Definitions:
Free Entry
A market condition where firms can freely enter or exit the industry without facing significant barriers.
Competitive Markets
Competitive markets are characterized by many buyers and sellers, allowing for free and open competition which dictates prices and quality of goods and services.
Economies Of Scale
The property whereby long-run average total cost falls as the quantity of output increases.
Competition
The rivalry among sellers trying to achieve such goals as increasing profits, market share, and sales volume by varying the elements of the marketing mix: price, product, distribution, and promotion.
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