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Arco Industries has a bond outstanding with 1 5 years to maturity, an 8 . 2 5 % nominal coupon, semiannual payments, and a $

Arco Industries has a bond outstanding with 15 years to maturity, an 8.25% nominal coupon, semiannual payments, and a $1,000 par value. The bond has a 6.50% vield to maturity, but it can be called in 6 years at a price of $1,045. What is the bond's yield to call?
Hint: Calculate the bond's price based on the YTM, and then use that price to find the YTC.
Your answer should be between 4.08 and 10.64, rounded to 2 decimal places, with no special characters.
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