decimal places.

$\%$

Why should or should not the investor be happy that Templeton called them?

I. Investors should be happy. Since the bonds have been called, investors will receive a call premium and can declare a capital gain on their tax returns.

II$.$ Investors should be happy. Since the bonds have been called, investors will no longer need to consider reinvestment rate risk. receipts, they must do so at lower interest rates. receipts, they can now do so at higher interest rates.