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Potter Crafting Inc. bonds have a $1,000 par value and a maturity of 8 years. The coupon rate on the bond is 8% and interest
Potter Crafting Inc. bonds have a $1,000 par value and a maturity of 8 years. The coupon rate on the bond is 8% and interest is paid semiannually. Potter's bonds are callable in 5 years at face value. These bonds currently sell at a price of $1,125. What is their yield to call (YTC)? Round to the nearest hundreth of a percentage.
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