Fingen's1212-year, $1,000 par value bonds pay 9percent interest annually. The market price of the bonds is $1,150 and the market's required yield to maturity on a comparable-risk bond is 6 percent.
(a) Compute the bond's yield to maturity
(b) Determine the value of the bond to you, given your required rate of return
(c) Should you purchase the bond?