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18. Thatcher Corporations bonds will mature in 10 years. The bonds have a par value of $1,000 and a 12 percent coupon rate, paid semi-annually.

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18. Thatcher Corporations bonds will mature in 10 years. The bonds have a par value of $1,000 and a 12 percent coupon rate, paid semi-annually. The price of the bonds is $950. The bonds are callable in 5 years at a call price of $1,030. What is the annual yield to call? a. 10.17% c. 13.85% b. 12.24% d. 17.58%

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