$($Related to Checkpoint $9\mathrm{.}2$ and Checkpoint $9\mathrm{.}3)($Bond valuation$)$ Fingen's $16-$year,$$1,000$ par value bonds pay $13$ percent

interest annually. The market price of the bonds is $$1,150$ and the market's required yield to maturity on a comparable$-$risk bond is $12$

percent.

a$.$ Compute the bond's yield to maturity.

b$.$ Determine the value of the bond to you, given your required rate of return.

c$.$ Should you purchase the bond?

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

$10\mathrm{.}97\%($Round to two decimal places.$)$

b$.$ What should be the value of the Fingen bonds given your required rate of return on a comparable$-$bond?

$$,($Round to the nearest cent.$)$