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A callable bond has a 1 0 % coupon rate, a maturity of 1 5 years, and a par value of $ 1 , 0
A callable bond has a coupon rate, a maturity of years, and a par value of $ Its
current market price is $ The coupon is paid semiannually. The bond's first call is years
from now for $ What is the yield to the first call?
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