Bond prices and maturity dates. Les Company is about to issue a bond with quarterly coupon payments, an annual coupon rate of $7\%,$

and a par value of $$1,000.$ The yield to maturity for this bond is $6\%.$

a$.$ What is the price of the bond if it matures in $10,15,20,$ or $25$ years?

b$.$ What do you notice about the price of the bond in relationship to the maturity of the bond?