The 12-year, $1,000 par value bonds of Waco Industries pay 12 percent interest annually. The market price of the bond is $885, and the market's required yield to maturity on a comparable-risk bond is 16 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?