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A corporate bond pays interest twice a year and has 22 years to maturity, a face value of $1,000 and a coupon rate of 5.9%.

A corporate bond pays interest twice a year and has 22 years to maturity, a face value of $1,000 and a coupon rate of 5.9%. The bond's current price is $1,464.59. It is callable starting 16 years from now (years to call) at a call price of $1,063. Attempt 2/5 for 10 pts.

Part 1 What is the bond's (annualized) yield to maturity?

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