HAND WRITTEN REQUIRED WITH EACH STEP EXPLANATION

Arnot Internatioanl's bonds have a current market price of $1200. The bonds have an 11% annual coupon payment, a $1000 face value and 10 years left until maturity. The bonds may be called in 5 years at 109% of face value. (call price = $1090) a) what is the yield to maturity? b) what is the yield to call if they are called in 5 years? c)Which yield might investors expect to earn on these bonds and why? d)The bond's indenture indicates that the call provision gives the firm to right to call them at the end of each year begining in Year 5. In year 5, they may be called at 109% of face value, but in each of the next 4 years thecaall percentage will decline by 1 percentage point. If the yeild curve is horizontal and interest rates remain at their current level, when is the latest that investors might expect the firm to call the bonds?