Problem 10-15 (Algo) Effect of yield to maturity on bond price [LO10-2, 10-3] Media Bias incorporated tssued bonds to years ago at $1.000 per bond, These bonds had a 40 year liee when issyed and the anninis interest payment was then 14 percent. Thits return was in line with the requited returns by bondholders at then point in time as described below: Assume that 10 years later, due to good piblicity. the risk premium is now 2 percent and is appropriately reflected in the requined return (or yieid to maturity) of the bonds. The bonds have 30 years remaining untel maturity Compute the new price of the bond. Use Anpensex. B and Agceendix. D for an approsimate answer but calculate your thal antwer using the formula and financial calculator methods Note: Do not round intermediate calculations. Round your final answer to 2 decimal piaces. Assume interest payments are anmual