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Nico Corp issued bonds bearing a coupon rate of 10 percent, pay coupons semiannually, have 3 years remaining to call date, and are currently priced

Nico Corp issued bonds bearing a coupon rate of 10 percent, pay coupons semiannually, have 3 years remaining to call date, and are currently priced at $990 per bond. The call price is 1100. What is the approximate yield to call?

Select one:

a. 17.25%

b. 12.00%

c. 13.99%

d. 14.04%

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