9-19. (Applying bond valuation relationships) Arizona Public Utilities issued a bond that pays $80 in interest, with a $1,000 par value. It matures in 20 years. The market's re- quired yield to maturity on a comparable-risk bond is 7 percent. a. Calculate the value of the bond b. How does the value change if the market's required yield to maturity on a compa- c. Explain the implications of your answers in part b as they relate to interest-rate d. Assume that the bond matures in 10 years instead of 20 years. Recompute your e. Explain the implications of your answers in part d as they relate to interest-rate rable-risk bond (i) increases to 10 percent or (ii) decreases to 6 percent? risk, premium bonds, and discount bonds. answers in part b risk, premium bonds, and discount bonds