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3. Josie Inc. has just issued a new 20 -year bond with a face value of $1,000, a coupon rate of 6%, and a yield-to-maturity

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3. Josie Inc. has just issued a new 20 -year bond with a face value of $1,000, a coupon rate of 6%, and a yield-to-maturity of 6%. Josie Inc. has a call provision on this bond that allows them to buy back the bond at the end of year 10 for a price of $1,200. a. What price is the bond currently selling for? b. Draw a timeline of the cash flows of this bond. c. Calculate the yield-to-call on this bond

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