(Bond valuation​ relationships) ​Stanley, Inc. issues 15​-year​$1,000 bonds that pay ​$85 annually. The market price for the bonds is ​$960. The​ market's required yield to maturity on a​comparable-risk bond is 9 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 11 percent or​ (ii) decreases to 7 ​percent? 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 ▼ (Increase to 11%) or ▼ (Decrease to 7%)​, you ▼ (Should) or ▼ (Shouldn't) purchase the Stanley bonds at the current market price of ​$960.