(Related to Checkpoint 9.2)(Yield to maturity)The Saleemi Corporation's

$1,000

bonds pay

11

percent interest annually and have

13

years until maturity. You can purchase the bond for

$1,055.

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

9

percent?

a.The yield to maturity on the Saleemi bonds is

nothing%.

(Round to two decimal places.)