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​(Related to Checkpoint​ 9.2)  ​(Yield to​ maturity)  The Saleemi​ Corporation's ​$1 comma 0001,000 bonds pay 1111...

​(Related to Checkpoint​ 9.2)  ​(Yield to​ maturity)  The Saleemi​ Corporation's

​$1 comma 0001,000

bonds pay

1111

percent interest annually and have

88

years until maturity. You can purchase the bond for

​$1 comma 0651,065.

a.  What is the yield to maturity on this​ bond?

b.  Should you purchase the bond if the yield to maturity on a​ comparable-risk bond is

88

​percent?

a.  The yield to maturity on the Saleemi bonds is _____​%.

​ (Round to two decimal​ places.)

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