Katie Pairy Fruits Incorporated has a $$1,00020-$year bond outstanding with a nominal yield of $15$ percent $($coupon equals $15\%\backslash$times $$1,000=$ $$150$ per year$).$ Assume that the current market required interest rate on similar bonds is now only $12$ percent. Use Appendix B and Appendix D for an approximate answer but calculate your final answer using the formula and financial calculator methods.

Compute the current price of the bond.

Note: Do not round intermediate calculations. Round your final answer to $2$ decimal places. Assume interest payments are annual.

Find the present value of $3$ percent $\backslash$times $$1,000($or $$30)$ for $20$ years at $12$ percent. The $$30$ is assumed to be an annual payment. Add this value to $$1,000.$

Note: Do not round intermediate calculations. Round your final answer to $2$ decimal places. Assume interest payments are annual.