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Brady, Inc. has bonds outstanding with 7 years to maturity and a par value of $1,000. The coupon rate is 12% paid semiannually, and the

Brady, Inc. has bonds outstanding with 7 years to maturity and a par value of $1,000. The coupon rate is 12% paid semiannually, and the bonds currently sell for $1,100. The bonds are callable in 3 years with a 5% call premium. What is the yield to call?

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