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KBB Motors has bonds outstanding which will mature in 1 2 years. The bonds pay a 1 2 percent semiannual coupon and have a face

KBB Motors has bonds outstanding which will mature in 12 years. The bonds pay a 12 percent semiannual coupon and have a face value of $1,000(i.e., the bonds pay a $60 coupon every six months). The bonds currently have a yield to maturity of 10 percent. The bonds are callable in 7 years and have a call price of $1,050. What are the bonds' yield to call?
Hint: Calculate the price of the bond and then use it to calculate YTC

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