A bond matures in 25 years but is callable in 11 years at


A bond matures in 25 years, but is callable in 11 years at 123. The call premium decreases by 2 percent of par per year. If the bond is called in 16 years, what percent of face value will you receive? (Omit the "%" sign in your response.)

Bond call price in 16 years   %

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Financial Management: A bond matures in 25 years but is callable in 11 years at
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