Ron Rhodes calis his broker to inquire about purchasing a bond of Golden Years Recreation Corporation. His broker quotes a price of $1,170. Ron is concerned that the bond might be overpriced based on the facts involved. The $1,000 par value bond pays 15 percent annual interest payable semiennually, and has 15 years remaining until maturity. The current yield to maturity on similar bands is 14 percent. a. Compute the new price of the bond. Use Appendix B and Appendix. D. (Round "PV Factor" to 3 decimal places, Do not rounid intermediate calculations. Round the final answer to 2 decimal places.) New price of the bond $ b. Do you think the bond is overpriced? Yes No ant +