#$7($Bond valuation$)$Fingen$\text{'}$s $12-$year, $$$$1$ comma $000$ par value bonds pay $12$ percent interest annually. The market price of the bonds is $$$$870$ and the$$ market's required yield to maturity on a$$ comparable$-$risk bond is $16$ percent.

a$.$Compute the$$ bond's yield to maturity.

b$.$Determine the value of the bond to$$ you, given your required rate of return.

c$.$Should you purchase the$$ bond?