$$A$($n $)11\mathrm{.}0\%,20-$year bond has a par value of$$ $$1,000$ and a call price of $$$$1,150.($The bond's first call date is in $5$ years.$)$ Coupon payments are made semiannually$($so use semiannual compounding where$$ appropriate$).$

a$.$ Find the current$$ yield, YTM$,$ and YTC on this$$ issue, given that it is currently being priced in the market at $$1,275.$ Which of these $3$ yields is the$$ highest? Which is the$$ lowest? Which yield would you use to value this$$ bond? Explain.

b$.$ Repeat the $3$ calculations$$ above, given that the bond is being priced at $$$$925.$ Now which yield is the$$ highest? Which is the$$ lowest? Which yield would you use to value this$$ bond? Explain.