BRB Cables, issued bonds five years ago at $1,000 per bond. These bonds had a 30-year life when issued and the annual in

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BRB Cables, issued bonds five years ago at $1,000 per bond.
These bonds had a 30-year life when issued and the annual interest
payment was then 13 percent. This return was in line with the
required returns by bondholders at that point as described next:
Real rate of return 4% Inflation premium 4% Risk premium 5% Total
return 13% Assume that five years later the risk premium is only 3
percent and is appropriately reflected in the required return (or
yield to maturity) of the bonds. The bonds have 25 years remaining
until maturity. Compute the new price of the bond. Please give the
answer within 25 min.