Fingen's 18-year $1,000 par value bonds pay 14 percent interest annually. The market price of the bonds is $1,090 and the market's required yield to maturity on a comparable-risk bond is 11 percent.

a.Compute the bond's yield to maturity. (Round to two decimal places.)

b.Determine the value of the bond to you, given your required rate of return. (Round to two decimal places.)

c.Should you purchase the bond?