The 15-year, $1000 par value bonds of Waco Industries pay 6 percent interest annually. The market price of the bond is $1095, and the market's required yield to maturity on a comparable-risk bond is 4 percent.

a.Compute the bond's yield to maturity. (round to 2 decimal points)

b.Determine the value of the bond to you given the market's required yield to maturity on a comparable-risk bond. (round to the nearest cent)

c.Should you purchase the bond?