$($Related to Checkpoint $9\mathrm{.}2$ and Checkpoint$9\mathrm{.}3)($Bond valuation$$ relationships$)$ The $13-$year, $$$$1,000$ par value bonds of Waco Industries pay $9$ percent interest annually. The market price of the bond is $$$$1,095,$ and the$$ 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 the$$ market's required yield to maturity on a$$ comparable$-$risk bond.

c$.$Should you purchase the$$ bond?

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Part $1$

a$.$What is your yield to maturity on the Waco bonds given the current market price of the$$ bonds?