Bond value and timelong dashChanging required returns$$Personal Finance Problem $$Lynn Parsons is considering investing in either of two outstanding bonds. The bonds both have $$$$1$ comma $000$ par values and $11\%$ coupon interest rates and pay annual interest. Bond A has exactly $5$ years to$$ maturity, and bond B has $15$ years to maturity.$$

a$.$Calculate the present value of bond A if the required rate of return$$ is: $(1)8\%,(2)11\%,$ and$(3)14\%.$

b$.$Calculate the present value of bond B if the required rate of return$$ is: $(1)8\%,(2)11\%,$ and$(3)14\%.$

c$.$ From your findings in parts a and b$,$ discuss the relationship between time to maturity and changing required returns.

d$.$If Lynn wanted to minimize interest rate$$ risk, which bond should she$$ purchase? $$ Why?