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A firms bonds have a maturity of 22 years with a $1,000 face value, a 7 percent semiannual coupon, are callable in 6 years at

A firms bonds have a maturity of 22 years with a $1,000 face value, a 7 percent semiannual coupon, are callable in 6 years at $1,080, and currently sell at a price of $1,166. What is their yield to call (YTC)?

a.4.93%

b.3.87%

c.5.83%

d.7.00%

e.5.67%

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