Bond value and time---Constant required returns Pecos Manufacturing has just issued a 15-year, 14% coupon interest rate, 51,000-par bond that pays interest annualy. The required return is currently 18%, and the company is certain it will remain at 18% until the bond matures in 15 years a. Assuming that the required retum dos main at 18% maturity find the value of the bond with (1) 15 years, (2) 12 years (3) 9 years (4) years (5) 3 years. (6) year to maturity b. All remaining the same, when the required totum differs from the coupon interest rate and is assumed to be constant to maturity, what happens to the band value as time moves toward maturity Explain in light of the following graph