(Bond valuation relationships)Stanley, Inc. issues -year $ bonds that pay $ annually. The market price for the bonds is $. The market's required yield to maturity on a comparable-risk bond is 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 percent or (ii) decreases to percent? c.Under which of the circumstances in part b should you purchase the bond? Question content area bottom Part 1 a.What is the value of the bond if the market's required yield to maturity on a comparable-risk bond is percent? $ enter your response here(Round to the nearest cent.) Part 2 b. (i)What is the value of the bond if the market's required yield to maturity on a comparable-risk bond increases to percent? $ enter your response here (Round to the nearest cent.) Part 3 b. (ii)What is the value of the bond if the market's required yield to maturity on a comparable-risk bond decreases to percent? $ enter your response here(Round to the nearest cent.) Part 4 c.Under which of the circumstances in part (b) should you purchase the bond? (Select from the drop-down menus.) If the yield to maturity on a comparable-risk bond increases to 13% decreases to 6% , you should should not purchase the Stanley bonds at the current market price of $.