Bond value and time-Constant required returns Pecos Manufacturing has just issued a 15 -year, 8% coupon nterest rate, $1,000-par bond that pays interest annually. The required return is currently 11%, and the company is certain it will remain at 11% until the bond matures in 15 years. a. Assuming that the required return does remain at 11% until maturity, find the value of the bond with (1) 15 years, (2) 12 years, (3) 9 years, (4) 6 years, (5) 3 years, (6) 1 year to maturity. o. All else equal, when the required return differs from the coupon rate and is constant to maturity, what happens to the oond value as time passes? Explain in light of the following graph: Bond value and time-Constant required returns Pecos Manufacturing has just issued a 15 -year, 8% coupon nterest rate, $1,000-par bond that pays interest annually. The required return is currently 11%, and the company is certain it will remain at 11% until the bond matures in 15 years. a. Assuming that the required return does remain at 11% until maturity, find the value of the bond with (1) 15 years, (2) 12 years, (3) 9 years, (4) 6 years, (5) 3 years, (6) 1 year to maturity. o. All else equal, when the required return differs from the coupon rate and is constant to maturity, what happens to the oond value as time passes? Explain in light of the following graph