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A bond has a $1,000 face value, a coupon rate of 6% paid semi-annually, and a maturity of 20 years. This bond is callable in
A bond has a $1,000 face value, a coupon rate of 6% paid semi-annually, and a maturity of 20 years. This bond is callable in 5 years with a call price of $986.18. What is the yield to call if the bond is trading at face value?
Please show work and/or how to calculate on a financial calculator, NOT EXCEL
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