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A firms bonds have a maturity of 23 years with a $1,000 face value, a 10 percent semiannual coupon, are callable in 7 years at
A firms bonds have a maturity of 23 years with a $1,000 face value, a 10 percent semiannual coupon, are callable in 7 years at $1,095, and currently sell at a price of $1,180. What is their yield to call (YTC)?
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