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Suppose you have a 12 percent, 20-year bond traded at $850. If it is callable in 5 years at $1,100, what is the bond's yield

Suppose you have a 12 percent, 20-year bond traded at $850. If it is callable in 5 years at $1,100, what is the bond's yield to call? Interest is paid semiannually.

	a.	9.0 percent
	b.	9.4 percent
	c.	16.5 percent
	d.	8 percent
	e.	18.0 percent

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