Bond value and timeConstant required returns Pecos Manufacturing has just issued a 15-year, 15% coupon interest rate, $1,000-par bond that pays interest annually.The required return is currently 12%, and the company is certain it will remain at 12% until the bond matures in 15 years. a.Assuming that the required return does remain at 12% until maturity, find the value of the bond with (1) 15years, (2) 12 years, (3) 9 years, (4) 6 years, (5) 3 years, (6) 1 year to maturity.