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bonds of Waco Industries

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The 15-year, ​$1, 000 par value bonds of Waco Industries pay 9 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 8 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.

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c.  Should you purchase the​ bond?

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