(Related to Checkpoint 9.2 and Checkpoint 9.3) (Bond valuation relationships) The 15 -year, $1,000 par value bonds of Waco Industries pay 8 percent interest annually. The market pnce of the bond is $1,055, and the market's required yield to maturity on a comparable-risk bond is 9 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? a. What is your yield to matunty on the Waco bonds given the current market price of the bonds? (Round to two decimal places.)