$($Related to Checkpoint $9\mathrm{.}2$ and Checkpoint $9\mathrm{.}3)($Bond valuation relationships$)$ The $15-$year, $$1,000$ par value bonds of Waco Industries pay $11$ percent interest annually. The market price of the bond is $$915,$ and the market's required yield to maturity on a comparable$-$risk bond is $14$ 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?

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

$\backslash$rceil $($Round to two decimal places.$)$

b$.$ What should be the value of the Waco bonds given the market's required yield to maturity on a com

$ $($Round to the nearest cent.$)$

overpriced

underpriced

c$.$ You $$ purchase the Waco bonds at the current market price because they are currently $($Select from the drop$-$down menus.$)$