The $16-$year, $$$$1$ comma $000$ par value bonds of Waco Industries pay $7$ percent interest annually. The market price of the bond is $$$$1$ comma $075,$ and the$$ 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?