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(Bond valuation) You own a bond that pays $120 in annual interest with a $1,000 par value. It matures in 10 years. Your required rate of return is 10 percent a. Calculate the value of the bond. b. How does the value change if your required rate of return (1) Increases to 16 percent or (2) decreases to 8 percent? c. Explain the implications of your answers in part(b) as they relate to interest rate risk, premium bonds, and discount bonds. d. Assume that the bond matures in 4 years instead of 10 years. Recompute your answers in part(b). .. Explain the implications of your answers in part (d) as they relate to interest rate risk, premium bonds, and discount bonds. 1268.4 a. If your required rate of return is 10 percent, what is the value of the bond? $ 1122,89 (Round to the nearest cent) b. What is the value of the bond if your required rate of return increases to 16 percent? $ 806.67 (Round to the nearest cent) What is the value of the bond if your required rate of return decreases to 8 percent? (Round to the nearest cont.) c. Based on the answers in part (b), a decrease in interest rates (the required rate of return) will cause the value of a bond to decrease (Select from the drop-down menus.) Also, based on the answers in port (b), the required rate of return (current interest rate): (Select from the drop-down menus.) 1.Equals the coupon Interest rate, the bond will seill at 2 Exceeds the band's coupon rate, the bond will sell at 3. Is less than the bond's coupon rate, the bond will sell at by contrast, an increase in in value to d. Assume the bond matures in 4 years instead of 10 years What is tha walianftha hann frontrata nf ratio in narrant