Problem 16-15 Profit potential associated with margin [LO 16-2) A $1000 par value bond was issued 25 years ago at a 12 percent coupon rate it currently has 25 years ago matury interest rates on similar obligations are now 8 percent. Assume Ms Bright bought the bond three years ago when it had a price of 51015 Further assume Ms Bright paid 40 percent of the purchase price in cash and borrowed the rest known as buying on margin She used the interest payments from the bond to cover the interest costs on the loan a. What is the current price of the bond? Use Table 16-2 input your answer to 2 decimal places.) Price of the bond b. What is her dollar profit based on the band's current price? (Do not round Intermediate calculations and round your answer to 2 decimal places) Doterrol c. How much of the purchase price of $1015 did Ms Bright pay in cash? (Do not round intermediate colculations and round your answer to 2 decimal places) Purchase price paid in cash