Basic bond valuation Complex Systems has an outstanding issue of $1,000-par-value bonds with a 12% coupon interest rate. The issue pays interest annually and has 12 years remaining to its maturity date. a. If bonds of similar risk are currently earning a rate of return of 7%, how much should the Complex Systems bond sell for today? b. Describe the two possible reasons why the rate on similar-risk bonds is below the coupon interest rate on the Complex Systems bond. c. If the required return were at 12% instead of 7%, what would the current value of Complex Systems' bond be? Contrast this finding with your findings in part a and discuss. a. If bonds of similar risk are currently earning a rate of return of 7%, the Complex Systems bond should sell today for $ (Round to the nearest cent.) Present value concept Answer each of the following questions. a. How much money would you have to invest today to accumulate $4,700 after 3 years if the rate of return on your investment is 7%? b. What is the present value of $4,700 that you will receive after 3 years if the discount rate is 7%? c. What is the most you would spend today for an investment that will pay $4,700 in 3 years if your opportunity cost is 7%? d. Compare, contrast, and discuss your findings in part a through c. a. A single investment made today, earning 7% annual interest, worth $4,700 at the end of 3 years is $ (Round to the nearest cent.)