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Monic, Inc. issued a 30-year bond which is callable in 8 years. It has a coupon rate of 5.5% payable semi-annually, a yield to maturity

Monic, Inc. issued a 30-year bond which is callable in 8 years. It has a coupon rate of 5.5% payable semi-annually, a yield to maturity of 8% and a call premium of one years interest. What is the yield to call? (10 Marks)

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