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Mirha Corp has outstanding bonds with 10 years left to maturity and 5 years left of call protection. The bonds have a coupon rate of
Mirha Corp has outstanding bonds with 10 years left to maturity and 5 years left of call protection. The bonds have a coupon rate of 10%, par value of $1,000, and a call price of $1100. The bonds are currently selling for $1,365. If interest rates remain at current levels, what yield should an investor wishing to hold the bond long-term expect to earn?
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