A $$1,000$ par value bond was issued $15$ years ago at a $14$ percent coupon rate, paid semiannually. It currently has $10$ years remaining to maturity. Interest rates on similar debt obligations are now $8$ percent.

a$.$ What is the current price of the bond?

b$.$ Assume Igor Sharp bought the bond three years ago, when it had a price of $$1,025.$ What is his dollar profit based on the bond's current price?

c$.$ Further assume Igor Sharp paid $20$ percent of the purchase price in cash and borrowed the rest $($known as buying on margin$).$ Igor used the interest payments from the bond to cover the interest costs on the loan. How much of the purchase price of $$1,025$ did Igor Sharp pay in cash?

d$.$ What is Igor's percentage return on his cash investment? Divide the answer to part $b$ by the answer to part $c.$

e$.$ Explain why his return is so high.