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#4. TeleCom Co. has an outstanding callable 5.5% coupon bond with a price of $106 and 12 years to maturity. The bond can be called

#4. TeleCom Co. has an outstanding callable 5.5% coupon bond with a price of $106 and 12 years to maturity. The bond can be called at 104% of par in 3 years.

a) What is the yield to maturity of TeleCom's bond?

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