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A 12-year, 7.5% bond is callable in 4 years at a call price of $1,045. If the bond pays semi-annual coupons and is currently selling

A 12-year, 7.5% bond is callable in 4 years at a call price of $1,045. If the bond pays semi-annual coupons and is currently selling for $1,038, then calculate the Yield-to-Maturity (YTM) and Yield-to-Call (YTC) of the bond. Comment if the bond will likely be called.

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