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Fingen’s1212-year, $1,000 par value bonds pay 9percent interest annually. The market price of the bonds is $1,150

and the market’s required yield to maturity on a comparable-risk bond is 6 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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