An issue of bonds with a par value of $1,000 matures in 14 years and pays 9% p.a. The current market price of the bonds is $1,100 and your required rate of return is 10% p.a. Required: a) Compute the bond's expected rate of return. (3 marks) b) Determine the value of the bond to you, given your required rate of return. (2 marks) Should you purchase the bond given your previous calculations? (2 marks) O