Problem 7-9 (similar to) Question Help (Bond valuation) National Steel's 10-year $1.000 par value bonds pay 12 percent interest annually. The market price of the bonds is $775, and your required rate of return is 18 percent a. Compute the bond's expected rate of return. b. Determine the value of the bond to you, given your required rate of return c. Should you purchase the bond? a. What is the expected rate of return of the bond? % (Round to two decimal places.)