Fingen's 16-year, $1000 par value bonds pay 9 percent interest annually. The market price of the bonds is $1,120 and the market's required yield to maturity on a comparable-risk bond is 6 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?