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4. Pawleys Inc.'s bonds currently sell for $1,264 and have a par value of $1,000. They pay a $105 annual coupon and have a 15-year
4. Pawleys Inc.'s bonds currently sell for $1,264 and have a par value of $1,000. They pay a \$105 annual coupon and have a 15-year maturity, but they can be called in 4 years at $1,170. What is their yield to call (YTC)? a) 6.62% b) 7.74% c) 6.98% d) 7.35% e) 8.12%
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