​(Bond valuation​ relationships) The 15 ​-year, ​$1 comma 000 par value bonds of Waco Industries pay 8 percent interes

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  ​(Bond valuation​ relationships) The
15
​-year,
​$1 comma 000
par value bonds of Waco Industries pay
8
percent interest annually. The market price of the bond is
​$935
​,
and the​ market's required yield to maturity on a​
comparable-risk bond is
10
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.
c.  Should you purchase the​ bond?
Question content area bottom
Part 1
a.  What is your yield to maturity on the Waco bonds given the
current market price of the​ bonds?
​%
​ (Round to two decimal​ places.)