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IBM has just issued a callable (at par) five-year, 8% coupon bond with annual coupon payments. - The bond can be called at par in
IBM has just issued a callable (at par) five-year, 8% coupon bond with annual coupon payments. - The bond can be called at par in one year or anytime thereafter on a coupon payment date. - It has a price of $102 per $100 face value, implying a yield to maturity of 7.5%. What is the bond's yield to call (\%)? Answer to the nearest whole number
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