A corporate bond has an annual-pay coupon of 6.0% plus a face value of $1,000 at maturity. This bond has a remaining maturity of 30 years. The required rate of return on securities of similarrisk grade is 7.0%. 1. What is the value of this corporate bond today? 2. If the coupon interest payment is compounded on a semi-annual basis, what would be the value of this security today? 3. How would the price of the bond react to changing market interest rates? To find out, determine how the bond price reacts to changes in the bond's yield to maturity. Find the value of the bond using (1) the present value equation and (2) the modified duration when the YTM is (1) 6.0%, (2) 8.0%, and (3) 4.0%. Label your findings as being a premium, par, or discount bond