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Consider a 20-year callable annual coupon bond with a face value of $1000 and an annual coupon rate of 8%. The bonds can be called
Consider a 20-year callable annual coupon bond with a face value of $1000 and an annual coupon rate of 8%. The bonds can be called after 5 years for a price of $1050 and is currently selling in the market for $1012. Calculate the yield to call. Round to two decimal places
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