suppose the Samsung Corporation issued 20 year maturity callable bonds 8years ago at the coupon rate at 7%. The call protection period is 5 years since the bonds were initially issued. Now the interst rate of the bonds of the same risk category has risen to 9%. Which of the following yields is more likely for the bondholders:

a. Yield to maturity (YTM)

b. Yield to call (YTC)

answer:__________

state the reason for your answer below:

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