Points: $0$ of $4$

$($Related to Checkpoint $9\mathrm{.}2$ and Checkpoint $9\mathrm{.}3)($Bond valuation$)$ The $9-$year $$1,000$ par bonds of Vail Inc. pay $15$ percent interest. The market's required yield to maturity on a comparable$-$risk bond is $20$ percent. The current market price for the bond is $$870.$

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?

a$.$ What is your yield to maturity on the Vail bonds given the current market price of the bonds? $\%($Round to two decimal places.$)$