$($Bond valuation relationships$)$ Stanley, Inc. issues $10-$year $$1,000$ bonds that pay $$85$ annually. The market price for the bonds is $$1,034.$ The market's required yield to maturity on a comparable$-$risk bond is $8$ percent.

a$.$ What is the value of the bond to you?

b$.$ What happens to the value if the market's required yield to maturity on a comparable$-$risk bond $($i$)$ increases to

$11$ percent or $($ii$)$ decreases to $6$ percent?

c$.$ Under which of the circumstances in part $b$ should you purchase the bond?

a$.$ What is the value of the bond if the market's required yield to maturity on a comparable$-$risk bond is $8$ percent?

$ $($Round to the nearest cent.$)$