A 23-year bond with $1,000 face amount and 4.5% yearly coupons has a YTM today of 3.5%. The bond is callable seven years from today at a call price of $1,022.50. (In other words, the call premium is $22.50, so the issuer must pay $1.022.50 to call the bond.) What is the yield to call? \begin{tabular}{l} \hline 2.353% \\ \hline 3.221% \\ \hline 2.618% \\ \hline 2.478% \\ \hline \end{tabular} Question 4 2.5pts Bond A has 5% annual coupons, matures in 15 years, and is priced today for a YTM of 4%. If the market interest rate next year is 4.5%, find the capital gains yield over the coming year. (Choose the answer closest to the capital gains yield.) 4.5% 5% 0.1% 5.4%