$($a$).$ If the required return on a bond differs from its coupon interest rate, describe the behavior of

the bond value over time as the bond moves toward maturity.

$($b$)$ Zheil Yi Computers has an outstanding issue of bond with a par value of $$1,000,$ paying $12$

percent coupon rate semi$-$annually. The bond was issued $25$ years ago and has $5$ years to

maturity. What is the value of the bond assuming $14$ percent rate of interest?

$($c$)$ Gong Li has recently inherited $$10,000$ and is considering purchasing $10$ bonds of the Lucky

$2$ Corporation. The bond has a par value of $$1,000$ with $10$ percent coupon rate and will mature

in $10$ years. Does Gong Li have enough money to buy $10$ bonds if the required rate of return is

$9$ percent?

$($d$)$ Using the information provided in the following table

What will happen to the value$/$price as the bond $L,M$ and $N$ approaches maturity?