Jim Busby calls his broker to Inquire about purchasing a bond of Disk Storage Systems. His broker quotes a price of $1,100. JIm is concerned that the bond might be overpriced based on the facts Involved. The $1,000 par value bond pays 10 percent Interest, and it has 15 years remaining until maturity. The current yleld to maturity on similar bonds is 8 percent. a. Calculate the new price of the bond. Use Appendix B and AppendixD for an approximate answer but calculate your final answer using the formula and financlal calculator methods. Note: Do not round Intermedlate calculations. Round your final answer to 2 declmal places. Assume Interest payments are annual. b. Do you think the bond is overpriced? No Yes