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Razaki Enterprises currently has a bond outstanding with a call option. The bond is priced at $950 with an 8% coupon rate. The bond has

Razaki Enterprises currently has a bond outstanding with a call option. The bond is priced at $950 with an 8% coupon rate. The bond has 10 years left to maturity but can be called in 4 years at a price of $1,050.

What is the yield to call?

When are bonds more likely to be called?

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