The current price of the bond is $239.39 (1000/(1+10%)^15)if it is priced in a conventional manner. The current price of the bond can be calculated by using the present value formula. The present value formula is the current value of something that affected by a discount rate. The formula of present value is stated as PV=FV/(1+i)^n where PV is the present value, FV is the future value, i is the interest rate, and n is the specific period of the interest paid.