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Engler Industries has a bond outstanding with 15 years to maturity, a 4.5% coupon paid semiannually, and a $1,000 par value. The bond has a

Engler Industries has a bond outstanding with 15 years to maturity, a 4.5% coupon paid semiannually, and a $1,000 par value. The bond has a 3.5% nominal yield to maturity, but it can be called in 5 years at a price of $1,045. What is the bonds nominal yield to call?

a. 1.42% b. 2.84% c. 3.50% d. 4.10% e. 4.50%

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