problem: Ron Rhodes calls his agent to inquire about buying 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 13 percent interest and it has eighteen (18) years remaining until maturity. The current yield to maturity on similar bonds is 11%. Do you think the bond is over price? Do the necessary computations.