$($Related to Checkpoint $9\mathrm{.}2$ and Checkpoint $9\mathrm{.}3)($Bond valuation relationships$)$ The $19-$year, $$1,000$ par value bonds of Waco Industries pay $7$ percent interest annually. The

market price of the bond is $$1,145,$ and the market's required yield to maturity on a comparable$-$risk bond is $4$ 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?