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Company B has just issued a callable ( at par ) 1 0 year, 1 2 % coupon bond with annual coupon payments. The bond

"Company B has just issued a callable (at par)10 year, 12% coupon bond with annual coupon payments. The bond can be called at par in one year or anytime thereafter on a coupon payment
date. It has a price of $81 per $100 face value. What is the bond's yield to call? Express your answers in strictly numerical terms. For example, if the answer is 5%, write 0.05."
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