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Samuel's Precious Ring Company's callable bond pays an annual interest of $40, has a par (face) value of $1,000, matures in 20 years but is
Samuel's Precious Ring Company's callable bond pays an annual interest of $40, has a par (face) value of $1,000, matures in 20 years but is callable in 10 years at a price of $1,150, and has a value today of $900. The yield to call on this bond is _____________.
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