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
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(b) determine the value of the bond to you, given your required rate of return
(c) should you purchase the bond?