(Related to Checkpoint 9.2 and Checkpoint 9.3) (Bond valuation relationships) The 16-year, $1,000 par value bonds of Waco Industries pay 8 percent interest annually. The market price of the bond is $1,155, and the market's required yield to maturity on a comparable-risk bond is 5 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? C. a. What is your yield to maturity on the Waco bonds given the current market price of the bonds? 1% (Round to two decimal places.)