The $8-$year $$$$1$ comma $000$ par bonds of Vail Inc. pay $9$ percent interest. The$$ market's required yield to maturity on a$$ comparable$-$risk bond is $12$ percent. The current market price for the bond is $ $920.$

a$.$Determine the yield to maturity.

b$.$What is the value of the bonds to you given the yield to maturity on a$$ comparable$-$risk bond?

c$.$Should you purchase the bond at the current market$$ price?

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Part $1$

a$.$ What is your yield to maturity on the Vail bonds given the current market price of the$$ bonds?

$$

enter your response here$\%($Round to two decimal$$ places.$)$