(Related to Checkpoint 9.2 and Checkpoint 9.3) (Bond valuation relationships) The 19-year, $1,000 par value bonds of Waco Industries pay 11 percent interest annually. The market price of the bond is...

Extracted text: (Related to Checkpoint 9.2 and Checkpoint 9.3) (Bond valuation relationships) The 19-year, $1,000 par value bonds of Waco Industries pay 11 percent interest annually. The market price of the bond is $925, 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?