The bond can first be called four years from now the call


A corporate bond that matures in 12 years pays a 9 percent annual coupon, has a face value of $1,000, and a current price of 980. The bond can first be called four years from now. The call price is $1,050. What is the bond’s yield to call?

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Financial Management: The bond can first be called four years from now the call
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