Assume you are the issuer of a callable bond with a current price above par and above call price. You are expecting the Fed to cut interest rates sharply to speed up the economy. Should you call the bond, and why?

Question 2 options:

	Yes, because we can retire the current high rate debt and replace with lower yielding debt and reduce our interest expense. This protects shareholder value.
	No, because a bond at a premium is not callable.
	No, not until it is between par and the call price. Then we can call it and lock in the Fed Funds Rate as the risk free asset.
	None of the above.