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(Related to Checkpoint 9.2) (Yield to maturity) The Saleemi Corporation's $1,000 bonds pay 7 percent interest annually and have 12 years until maturity. You purchase

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(Related to Checkpoint 9.2) (Yield to maturity) The Saleemi Corporation's $1,000 bonds pay 7 percent interest annually and have 12 years until maturity. You purchase the bond for $855- a. What is the yield to maturity on this bond? b. Should you purchase the bond if the yield to maturity on a comparable-risk bond is 8 percent? a. The yield to ruaturity on the Saleemi bonds is |%. (Round to two decimal places.)

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