(Related to Checkpoint 9.2 and Checkpoint 9.3) (Bond valuation relationships) The 16-year, $1,000 par value bonds of Waco Industries pay 9 percent interest annually. The market price of the bond is $925, and the market's required yield to maturity on a comparable-risk bond is 8 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 maturity on the Waco bonds given the current market price of the bonds? 9.96 % (Round to two decimal places.) b. What should be the value of the Waco bonds given the market's required yield to maturity on a comparable-risk bond? S(Round to the nearest cent.)