$($Bond valuation$$ relationships$)$A bond of Telink Corporation pays $$$$120$ in annual$$ interest, with a $$$$1$ comma $000$ par value. The bonds mature in $25$ years. The$$ market's required yield to maturity on a$$ comparable$-$risk bond is $10$ percent.

a$.$Calculate the value of the bond.

b$.$How does the value change if the$$ market's required yield to maturity on a$$ comparable$-$risk bond$($i$)$ increases to $13$ percent or$($ii$)$ decreases to $6$percent$?$

c$.$Interpret your findings in parts a and b$.$

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Part $1$

a$.$What is the value of the bond if the$$ market's required yield to maturity on a$$ comparable$-$risk bond is $10$percent$?$

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enter your response here$($Round to the nearest$$ cent.$)$