(Bond valuation relationships) The 16-year, $1000 par value bonds of Waco Industries pay 8 percent interest annually. The market price of the bond is $945, and the market's required yield to maturity on a comparable-risk bond is 7 percent. a.Compute the bond's yield to maturity. b.Determine the value of the bond to you given the market's required yield to maturity on a comparable-risk bond. c.Should you purchase the bond? a.What is your yield to maturity on the Waco bonds given the current market price of the bonds? (Round to two decimal places.) b.What should be the value of the Waco bonds given the market's required yield to maturity on a comparable-risk bond? (Round to the nearest cent.)