A bond with 30-year maturity was issued 4 years ago. The face value of this 11.36% quarterly coupon paying bond is $4,000. Analysts find that the current yield to maturity of this bond is 14.77 percent. Show your workings and find the value of this bond.

Briefly explain the reasons for any difference between the face value and the calculated value of the bond .Use a max of 100 words for the explanation