(Bond valuation relationships) Acizona Public Utilies issued a bond that pays $70 in interest, with a $1,000 par value. It matures in 20 years. The markers required yleld to maturity on a comparable-tisk bond is 6 percent. a. Calculate the value of the bond. b. How does the value change it the markets required yield to maturity on a comparable-risk bond (i) increases to 10 percent or ( c) decreases to 5 percent? c. Explain the implications of your answers in part b as they relase to interest-rate risk, premium bonds, and ditcount bonds. d. Aswame that the bond matures in 15 years inslead of 20 years. Recompute your answers in parts a and b. e. Explain the implications of your answers in part d as they relate to imerest-eate riak, promlum bonds, and discount bonds