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A company has the right to call its bond after 5 years. You bought the bond for $1200. The bond had $1000 par, pays 8%

A company has the right to call its bond after 5 years. You bought the bond for $1200. The bond had $1000 par, pays 8% coupon rate paid yearly and has a maturity of 15 years. The company pays at the end of 5 years when it calls the bond a call price of $1080. Calculate the yield to call?

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