$($Bond valuation$$ relationships$)$ The $12-$year, $$$$1$ comma $000$ par value bonds of Waco Industries pay $8$ percent interest annually. The market price of the bond is $$$$915,$ and the$$ market's required yield to maturity on a$$ comparable$-$risk bond is $11$ 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?

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Part $1$

a$.$What is your yield to maturity on the Waco bonds given the current market price of the$$ bonds?

$$

enter your response here$\%($Round to two decimal$$ places.$)$