w (Bond valuation relationships) Arizona Public Utilities issued a bond that pays $70 in interest, with a $1,000 par value. It matures in 20 years. The marker's required yield to maturity on a comparable-risk bond is 8 percent a. Calculate the value of the bond. b. How does the value change if the market's required yield to maturity on a comparable-risk bond increases to 10 percent or 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 15 years instead of 20 years. Recompute your answers in parts a 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 comparablo-risk bond is 8 percent? (Round to the nearest cont.) ed: ores