A bond is sold for its face value of $1,000 with a 25-year maturity, a 9% coupon, and interest paid semiannually. The bond is callable 5 years from issuance at an 11% premium over face value. What is the bond's yield to call today if investors expect the bond to be called?

a. 10.72%

b. 9.00%

c. 9.12%

d. 5.36%

A bond was sold for its face value of $1,000 with a 25-year maturity, a 7% coupon, and interest paid semiannually. The bond was issued 17 years ago, currently sells for $646.74 and has 8 years to maturity. What is the bond's yield to maturity?

a. 14.09%

b. 15.21%

c. 14.77%

d. 14.64%