Black Sheep Broadcasting Company has 9% annual coupon bonds that are callable and have 18 years left until maturity. The bonds have a par value of $1,000, and their current market price is $1,010.35. However, Black Sheep may call the bonds in eight years at a call price of $1,060. What are the YTM and the yield to call (YTC) on Black Sheeps bonds?If interest rates are expected to remain constant, what is the best estimate of the remaining life left for Black Sheeps bonds?

	Value
YTM
YTC

The current yield on the bond is .

If interest rates are expected to remain constant, what is the best estimate of the remaining life left for Black Sheeps bonds?

18 years

13 years

10 years

8 years

If Black Sheep Broadcasting Company issued new bonds today, what coupon rate must the bonds have to be issued at par?

10.46%

8.88%

8.24%

9.35%