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( Bond valuation ) The 7 - year $ 1 comma 0 0 0 par bonds of Vail Inc. pay 1 5 percent interest. The

(Bond valuation)The 7-year $1 comma 000 par bonds of Vail Inc. pay 15 percent interest. The market's required yield to maturity on a comparable-risk bond is 18 percent. The current market price for the bond is $ 930.
a.Determine the yield to maturity.
b.What is the value of the bonds to you given the yield to maturity on a comparable-risk bond?
c.Should you purchase the bond at the current market price?

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