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A bond with five years remaining until maturity is currently trading for 103 per 100 of par value. The bond offers a 7% coupon rate
A bond with five years remaining until maturity is currently trading for 103 per 100 of par value. The bond offers a 7% coupon rate with interest paid semiannually. The bond is first callable in two years at a call price of 107. The bonds annual yield-to-call is ____%? (Do not put a percent sign in your answer. Do not use the decimal form of percent. Round to two decimal places)
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