$$Fingen$\text{'}$s $13-$year, $$$$1$ comma $000$ par value bonds pay $13$ percent interest annually. The market price of the bonds is $$$$940$ and the$$ market's required yield to maturity on a$$ comparable$-$risk bond is $16$ percent.

a$.$Compute the$$ bond's yield to maturity.

b$.$Determine the value of the bond to$$ you, given your required rate of return.

c$.$Should you purchase the$$ bond?

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Part $1$

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