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1. A 7.75% fixed coupon bond maturing on April 21, 2010 is priced at $995 on December 20, 2001. The bond is callable on December

1. A 7.75% fixed coupon bond maturing on April 21, 2010 is priced at $995 on December 20, 2001. The bond is callable on December 20, 2005 for $1,150. What is the annual bond equivalent yield to call on December 20, 2001?

Round to 3 decimal places. [ THE ANSWER IS NOT 10.994 OR 10.7 ]

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