Grand Scale Productions Corporation currently sells a 10-year bond that has a par value of $1,000, market price of $1,100 but suppose you buy the bond for $1,150. The coupon rate is 8% and payments are made quarterly. The bond may be called after five years have elapsed for $1050 and, if called, it would occur at the beginning of the year. Assume interest rates for years 6-10 are 9%, 10%, 8%, 7%, and 9%, respectively. Calculate your annual yield to call.

5.95%

6.11%

6.43%

1.53%