Again, Inc. bonds have a par value of $1,000, a 28 year maturity, and an annual coupon rate of 8.0% with annual coupon payments. The bonds are currently selling for $1,037. The bonds may be called in 3 years for 108.0% of par. What quoted annual rate of return do you expect to earn if you buy the bonds and company calls them when possible?

Question 20 options:

	7.45%
	7.68%
	9.87%
	8.98%
	6.11%