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Consider the following bond: Coupon rate = 11% Maturity = 18 years Par value = $1,000 First par call in 13 years Suppose that the

Consider the following bond: Coupon rate = 11%

Maturity = 18 years

Par value = $1,000

First par call in 13 years

Suppose that the market price for this bond $1,169. What is the yield to first par call?

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