​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 12 percent or​ (ii) decreases to 6 ​percent? c.  Under which of the circumstances in part b should you purchase the​ bond?

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