The Saleemi Corporation's $1,000 bonds pay 6 percent interest annually and have 8 years until maturity. You can purchase the bond for $925.

(Related to Checkpoint 9.2 and Checkpoint 9.3) (Bond valuation) The 14-year $1,000 par bonds of Vail Inc. pay 12 percent interest. The market's required yield to maturity on a comparable-risk bond is 14 percent. The current market price for the bond is $950. 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 a. What is your yield to maturity on the Vail bonds given the current market price of the bonds? % (Round to two decimal places.)