Coupon payments are fixed, but the percentage return that investors receive varies based on market conditions. This percentage returned is referred to as a yield. A bond's yield to maturity (YTM) is the percentage return that it is expected to generate if the bond is assumed to be held until it matures. Calculating a bond's YTM requires you to make several assumptions. Which of the following is one of these assumptions? O The bond is callable. The probability of default is zero. Consider the following case of Blue Pencil Publishing: Blue Pencil Publishing has 9% annual coupon bonds that are callable and have 18 years left until maturity. The bonds have a par value of $1,000, and their current market price is $1040.35. However, Blue Pencil Publishing may call the bonds in eight years at a call price of $1,060. What are the YTM and yield to call (YTC) on bonds? Blue Pencil Publishing's bonds have a yield-to-maturity (YTM) of and a yield-to-call (YTC) of If interest rates are expected to remain constant, what is the best estimate of the remaining life left for Blue Pencil Publishing's bonds? O 5 years O 18 years O 10 years O 8 years If Blue Pencil Publishing issued new bonds today, what coupon rate must the bonds have to be issued at par