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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 10% coupon rate, a maturity of 15 years, and a par value of $1,000. Its
current market price is $832. The coupon is paid semiannually. The bond's first call is 5 years
from now for $1,100. What is the yield to the first call?
12.78%
16.42%
8.32%
12.82%
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