Lance Whittingham IV specializes in buying deep discount bonds. These represent bonds that are trading at well below par value. He has his eye on a bond issued by the Leisure Time Corporation. The $$1,000$ par value bond with semiannual payments has $4$ percent annual interest and has $8$ years remaining to maturity. The current yield to maturity on similar bonds is $10$ percent. $($Round $"$PV Factor" to $3$ decimal places. Do not round intermediate calculations. Round the final answers to $2$ decimal places.$)$

a$.$ What is the current price of the bonds? Use Appendix B and Appendix D$.$

Current price $

b$.$ By what percent will the price of the bonds increase between now and maturity?

Price increases by

$\%$

c$.$ What is the annual compound rate of growth in the value of the bonds? $($Use Appendix A$)$

Annual compound rate

$\%$