A-Plus Constructions bonds have a current market price of $1,250. The bond has an 11% annual coupon rate, $1,000 face value, and 10 years until maturity. The bond is callable in 5 years and the call price is 108% of face value.

a. What is the yield to maturity?

b. What is the yield to call if they are called in 5 years?

c. Which yield should investors expect to earn on these bonds, and why?