$($Bond valuation relationships$)$ A bond of Telink Corporation pays $$110$ in annual interest, with a $$1,000$ par value. The bonds mature in $25$ years. The market's required yield to maturity on a comparable$-$risk

bond is $9$ 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 $12$ percent or $($ii$)$ decreases to $5$ percent?

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

a$.$ What is the value of the bond if the market's required yield to maturity on a comparable$-$risk bond is $9$ percent?

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