A 20-year maturity, 8.5% coupon bond paying coupons semiannually is callable in 5 years at a call price of $1,300. The bond currently sells at a yield to maturity of 7% (3.5% per half-year).

a.	What is the yield to call annually? (Do not round intermediate calculations. Round your answer to 3 decimal places. Omit the "%" sign in your response.)

Yield to call

%

b.	What is the yield to call annually if the call price is only $1,250? (Do not round intermediate calculations. Round your answer to 3 decimal places. Omit the "%" sign in your response.)

Yield to call

%

c.	What is the yield to call annually if the call price is $1,300, but the bond can be called in 2 years instead of 5 years? (Do not round intermediate calculations. Round your answer to 3 decimal places. Omit the "%" sign in your response.)

Yield to call

%