WLS had a decision to make regarding how to pay for that new equipment. They decided NOT to try to sell more common stock, opting instead to sell bonds. Their bonds sold for (face/maturity value) $1,000. They have a maturity of 20 years. The coupon on the bonds was 6%. Lets say you bought a WLS bond when it was issued in 2018. Four years later you have the bright idea of buying stock in Target, but you are short cash. You sell your WLS bond in the secondary market (note this is a fairly stupid thing to do, but what the heck). You find that similar bonds now are carrying an 8% coupon. If thats the case, what should be the value of your WLS be now in 2022? You must show the formula and all work!... Answer this question: Above context for this question only.OK, lets jump into the pool one more time with WLS! What if we change a couple of things from the bond problem above. 10 years, not 4 years pass and now you want to sell your WLS bond. Similar bonds now have a 6% coupon. What should be the value of your bond now in the secondary market? Yes you must show all work.Time value: FV=PV(FVFk,n) FVOA=PMT(FVFOAk,n) PV=FV(PVFk,n) PVOA=PMT (PVFOAk,n) Bond Valuation: V=(INT*PVFOA)+ (M*PVF)