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Consider a 5y nc 3y bond (A 5-year non-call 3-year bond) that is callable in 3y and 4y at prices of 101 and 100. It

Consider a 5y nc 3y bond (A 5-year non-call 3-year bond) that is callable in 3y and 4y at prices of 101 and 100. It pays an annual coupon of 4% and is priced at 101.

a. What is the yield-to-first-call for this bond

b. What is the yield-to-maturity for this bond?

c. What is the yield-to-worst for this bond?

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