(Related to Checkpoint 9.2 and Checkpoint 9.3)(Bond valuation relationships) The 12-year, $ 1,000 par value bonds of Waco Industries pay 7 percent interest annually. The market price of the bond is $1,065, 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?