1) IBM has just issued a callable (at par) 9 year, 12% coupon bond with annual coupon payments. The bond can be called at par in one year or anytime thereafter on a coupon payment date. It has a price of $109 per $100 face value. What is the bond's yield to call?

2) IBM has just issued a callable (at par) 9 year, 12% coupon bond with annual coupon payments. The bond can be called at par in one year or anytime thereafter on a coupon payment date. It has a price of $95 per $100 face value. What is the bond's yield to call?