%x P9-17 (similar to) Question Help (Related to Checkpoint 9.2 and Checkpoint 9.3) (Bond valuation relationships) The 12-year, $1,000 par value bonds of Waco Industries pay 11 percent interest annually. The market price of the bond is $955, and the market's required yield to maturity on a comparable-risk bond is 13 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? 11.71 % (Round to two decimal places.) b. What should be the value of the Waco bonds given the market's required yield to maturity on a comparable-risk bond? $958.49 (Round to the nearest cent.)