$($Related to Checkpoint $9\mathrm{.}3)($Bond valuation relationships$)$ You own a bond that pays $$100$ in annual interest, with a $$1,000$ par value. It matures in $10$ years. The market's required yield to maturity on a comparable$-$risk bond is $11$ percent.

a$.$ Calculate the value of the bond.

b$.$ How does the value change if the yield to maturity on a comparable$-$risk bond $($i$)$ increases to $15$ percent or $($ii$)$ decreases to $6$ percent?

c$.$ Explain the implications of your answers in part $b$ as they relate to interest$-$rate risk, premium bonds, and discount bonds.

d$.$ Assume that the bond matures in $5$ years instead of $10$ years and recalculate your answers in parts a and $b.$

e$.$ Explain the implications of your answers in part $d$ as they relate to interest$-$rate risk, premium bonds, and discount bonds.

a$.$ What is the value of the bond if the market's required yield to maturity on a comparable$-$risk bond is $11$ percent?

$

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