Given the following information: Current Interest Rate is 3% There are 3 different scenarios: Interest Rate can stay the same at 3% with probability 0.15 or increase to 5% with probability 0.17 or decrease to 1% with probability 0.68 Bond's information: Maturity is 23 years Coupon is 3% paid annually Par value is $1,000 Call Price is $1,019 There is a call protection period of 14 years. At what interest rate will the bond be called on the first call date? 39 5% 1%