GM is considering a new bond offering to fund the building of an EV manufacturing plant in Indiana. The bond offering will be a debenture. But, the management is considering either a callable bond, with last call date of Jun 1, 2023 and call price of $1,050, or a non-callable bond. Both would have the same maturity of 10 years and be sold at $1,000 par. GM's management believes that the US Federal Reserve is likely to increase interest rates in late 2022 and early 2023 in order to fight inflation, and then not change rates in mid-to-late 2023. Based on the limited information above, which bond offering should GM's management choose? (a) The callable bond (b) The non-callable bond No answer text provided