A Company Issues a 20-Year,callable Bond at Par with a 6

question 50

Multiple Choice

A company issues a 20-year,callable bond at par with a 6% annual coupon.The bond can be called at par in three years or any time after that on a coupon payment date.The call price is $110 per $100 of face value.What is the yield to call?

• A)4%
• B)6%
• C)8%
• D)9%
• E)12%

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