Bond value and time-Constant required roturns Pecoe Manutacturing has just issued a 15 -yoar, 14% coupon interedt rate, 51,000 -par bond that pays interest anruall. The roguind return is currently. 12\%, and the company is certain is will remain at 12% untl the bond matures in 15 years a. Assurning that the required retum does reman at 12% unt matunty, find the valoe of the bond with (1) 15 years, (2) 12 years, (3) 9 yoars, (4) 6 yoars, (5) 3 yoars, (6) 1 year to maturity b. All else remaining the same, when the cequited cotum differs from the coupon interest rate and is assumed lo be constant to maturity, what happens fo the bond value as time moves foward maturib? Explain in light of the folowing gragh: a. (1) The value of the bond with 15 years to maturity is 1 (lound to the neorest cent) areney 12%, and the corgany is cerait it wit romain at 12% until the bond matires in 15 years. b. Al else temaining the same, when the requred retum defers from the coupon interest rate and is moumed lo te oonstant to matirhty. What happens to the bond value as tirne mores loward maturity? Explain in light of the folowing graph: a. (1) The value of the bond wet 15 years to makirfy is: (Round to the nearest cent.) Graph/chart