The Vinny Cartier Company issued bonds at $1.000 per bond. The bonds had a 20-year life when issued with semiannual payments at the then annual rate of 12 percent. This return was in line with required returns by bondholders at that point as described below Real rate of return Inflation pruni Risk premium Total return Assume that ten years later the initiation premium is 2 percent, the risk premium has declined to 2 percent and both are appropriately reflected in the required return for yield to maturity of the bonds The bonds have 10 years remaining until maturity Compute the new price of the bond. (Use a Financial calculator to arrive at the answers. Do not round intermediate calculations Round the final answer to 2 decimal places.) New price of the bond