A $$1,000$ par value bond was issued $30$ years ago at a $12$ percent coupon rate. It currently has $25$ years remaining to maturity. Interest rates on similar obligations are now $8$ percent. Assume Ms$.$ Bright bought the bond three years ago when it had a price of $$1,040.$ Further assume Ms$.$ Bright paid $35$ percent of the purchase price in cash and borrowed the rest $($known as buying on margin$).$ She used the interest payments from the bond to cover the interest costs on the loan.