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Fingen's 15-year, $1000 par value bonds pay 14 percent interest annually. The market price of the bonds is $1060 and the market's required yield to

Fingen's 15-year, $1000 par value bonds pay 14 percent interest annually. The market price of the bonds is $1060 and the market's required yield to maturity on a comparable-risk bond is 15 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?

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