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A 20-year maturity $1,000 par 9% coupon bond paying coupons semi-annually is callable in 5 years at a call price of $1,120. The bond currently

A 20-year maturity $1,000 par 9% coupon bond paying coupons semi-annually is callable in 5 years at a call price of $1,120. The bond currently sells at a yield to maturity of 7.70%, what is the yield to call? No excel please

A) 6.17%

B) 5.92%

C) 4.93%

D) 9.34%

E) 7.78%

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