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The 19-year, $1,000 par value bonds of Waco Industries pay 6 percent interest annually. The market price of the bond is $1,095, and the market's required yield to maturity on a comparable-risk bond is 4 percent.
(a) Compute the bond's yield 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?
Please show work so I can understand how to do the calculations
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