Please assist with the following problem. Provide step by step calculations.
You own a 20-year, $10,000 par value bond paying 7% interest annually. The market price of the bond is $875, and your required rate of return is 10%.
Problem 1: Compute the bond's expected rate of return
Problem 2: Determine the value of the bond to you, given your required rate of return
Problem 3: Should you sell the bond or continue to own it?