$($Bond valuation relationships$)$ A bond of Visador Corporation pays $$90$ in annual interest, with a $$1,000$ par value. The bonds mature in $22$ years. The market's required yield to maturity on a comparable$-$risk bond is $9\mathrm{.}5$ 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 $5$ percent?

c$.$ Interpret your finding 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 $9\mathrm{.}5$ percent?

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

b$.($i$)$ What is the value of the bond if the market's required yield to maturity on a comparable$-$risk bond increases to $13$ percent?

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

b$.($ii$)$ What is the value of the bond if the market's required yield to maturity on a comparable$-$risk bond decreases to $5$ percent? $$

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