At one point, some Treasury bonds were callable. Consider the prices on the following three Treasury issues as of May 15, 2016:

6.95		May	20	n		106.59375		106.65625		?	.31250		5.37
8.70		May	20			103.71875		103.78125		?	.06250		5.33
12.45		May	20			143.87500		144.06250		?	.37500		5.41

The bond in the middle is callable in February 2017. What is the implied value of the call feature? Assume a par value of $1,000. (Hint: Is there a way to combine the two noncallable issues to create an issue that has the same coupon as the callable bond?)