The 15 -year, $1,000 par value bonds of Waco Industries pay 11 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 14 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? a.What is your yield to maturity on the Waco bonds given the current market price of the bonds? _% (Round to two decimal places.)