$($a$)$ Goldie Berhad issued a $15-$year bond $5$ years ago with a par value of RM$1,000.$ The coupon rate is $6\%$ per annum with a required rate of return $12\%.$

i$)$ What is the amount you would be willing to pay for this bond?

ii$)$ What would be the effect on the value of this bond if the required rate of return increases from $12\%$ to $14\%$ and the coupon is made annually? Show your calculations.

$(10)$

$($b$)$ Describe the advantages and disadvantages of bonds to the issuing firm.