Fingen's 14?-year, $1,000 par value bonds pay 8 percent 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 5 percent.
a. Compute the? bond's yield to maturity. ?(Round to two decimal? places.)
b. Determine the value of the bond to? you, given your required rate of return.
c. Should you purchase the? bond?