Media Bias incorporated issued bonds 10 years ago at $1,000 per bond. These bonds had a 40 -year life when issued and the annus interest payment was then 11 percent. This return was in line with the required returns by bondholders at that point in time as described below: Assume that 10 years later, due to good publicity, the risk premlum is now 3 percent and is appropriately reflected in the required return (or yleld to maturity) of the bonds. The bonds have 30 years remaining until maturity. Compute the new price of the bond. Use AppendixB and RpendXX D for an approximate answer but calculate your final answer usins the formula and financial calculator methods. Note: Do not round intermediate calculations. Round your final answer to 2 decimal places. Assume interest payments are annual