(Bond valuation) National Steel's 20-year, $1,000 par value bonds pay 12 percent interest annually. The market price of the bonds is $800, and your required rate of return is 17 percent. a. Compute the bond's expected rate of return. b. Determine the value of the bond to you, given your required rate of return. c. Should you purchase the bond? Question content area bottom Part 1 a. What is the expected rate of return of the bond? enter your response here% (Round to two decimal places.) Part 2 b. What is the value of the bond to you, given your 17 percent required rate of return? $enter your response here(Round to the nearest cent.) Part 3 c. Should