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The 12 -year, $1,000 par value bonds of Waco Industries pay 6 percent interest annually. The market price of the bond is $905 , and

The 12 -year, $1,000 par value bonds of Waco Industries pay 6 percent interest annually. The market price of the bond is $905 , and the market's required yield to maturity on a comparable-risk bond is 9 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?

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