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Waco Industries

The 16​-year, ​$1,000 par value bonds of Waco Industries pay 12 percent interest annually. The market price of the bond is ​$1,115​, and the​market’s required yield to maturity on a​ comparable-risk bond is 9 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?

a.  What is your yield to maturity on the Waco bonds given the current market price of the​ bonds? __​% ​ (Round to two decimal​ places.)

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