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A bond with 5 years to maturity is currently trading for 1 0 1 per 1 0 0 of par. The bond offers a 6

A bond with

5

years to maturity is currently trading for

101

per

100

of par. The bond offers a

6 %

coupon with interest paid semiannually. The bond is first callable in four years. Calculate the bond's annual yield

-

-

call. Please state your answer in percentage terms and round to two decimal places.

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