Stanley, Inc. issues 20​-year ​$1,000 bonds that pay ​$80 annually. The market price for the bonds is $909. The​ market's required yield to maturity on a comparable-risk bond is 9 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 7 ​percent? c.  Under which of the circumstances in part b should you purchase the​ bond

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