The market yield on a 15-year, 7.5% bond is 6.5%. The bond makes semi- annual coupon payments and is callable in 5 years at a call price of $1,075. 1. What is the bond price based on the market yield? (4 marks) 2. What is the bond's yield to call? (3 marks) 3. Is this bond likely to be called? Explain. (2 marks)