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The following chart is for questions on callable bonds. Price Value of the Embedded Call Option PV. PV. Non-Callable Bond PV + Callable Bond A

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The following chart is for questions on callable bonds. Price Value of the Embedded Call Option PV. PV. Non-Callable Bond PV + Callable Bond A Curve A Curve Benchmark Yield Question: Why is the price line of Callable Bond below the price line of Non-Callable Bond

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