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Suppose that a 8% semi-annual coupon bond with a time to maturity of 12 years and a par value of $100 has a price of
Suppose that a 8% semi-annual coupon bond with a time to maturity of 12 years and a par value of $100 has a price of $108.0292. This bond is first callable in 6 years at a redemption price of $106. What is the yield to maturity for this bond? What is the yield to first call for this bond? You will need to use Excel for this problem.
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