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D (amen / 9 mm; am. E] https eztomheducationcom ' El 0 merry Hume W Black lard age EMail in linkedln Indeed Thrift Savings Plan Gangle '- Otherfavarites Exam 3 0 Saved Help Save 3. Exit Submit Lance Whittingham IV specializes in buying deep discount bonds. These represent bonds that are trading at well below par value. He has his eye on a bend issued bythe Leisure Time Corporation. The $1,000 par value bond pays 7 percent annual interest and has 16 years remaining to maturity. The current yield to maturity on similar bonds is 11 percent. UseAgpendix B and Agpehdix D for an approximate answer but calculate your final answer using the formula and financial calculator methods. a. What is the current price of the bonds? (Do not round intermediate calculations. Round your final answer to 2 decimal places. Assume interest payments are annual.) 4 pol n15 Current price of the bond b. By what percent will the price of the bonds increase between now and maturity? (Do not round intermediate calculations. Input your answer as a percent rounded to 2 decimal places.) Price increases by %