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The 10 ​-year ​$1000 par bonds of Vail Inc. pay 15 percent interest. The​ market's required...

The 10 ​-year ​$1000 par bonds of Vail Inc. pay 15 percent interest. The​ market's required yield to maturity on a​ comparable-risk bond is 16 percent. The current market price for the bond is 880 .

a. Determine the yield to maturity.

b. What is the value of the bonds to you given the yield to maturity on a​ comparable-risk bond?

c. Should you purchase the bond at the current market​ price?

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