Score: U of 10 pts 10 of 12 (8 complete) HW Score: 58.33%, 70 of 120 pl Question Help P9-18 (similar to) (Related to Checkpoint 0.3) (Bond valuation relationshipe) You own a bond that pays $120 in annual interest, with a $1,000 par value. It matures in 20 years. The market's required yield to maturity on a comparable-risk bond is 11 percent. a. Calculate the value of the bond. b. How does the value change if the yield to maturity on a comparable-risk bond() increases to 15 percent or (1) decreases to 7 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 20 years and recalculate your answers in partea and b. e. Explain the implications of your answers in part d as they relate to interest-rate risk, premium bonds, and discount bonds a. What is the value of the bond if the market's required yield to maturity on a comparable-risk bond is 11 percent? (Round to the nearest cont.)