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There are correct answer, can you show me the step? Question 7. (2pt) The 7 percent, semiannual coupon bonds offered by House Renovators are callable

There are correct answer, can you show me the step? image text in transcribed
Question 7. (2pt) The 7 percent, semiannual coupon bonds offered by House Renovators are callable in two years at $1,035. The yield to maturity is 6%. What are the amount of the call premium and yield to call if the bonds have a par value of $1,000 and current price of $900? Answer: $35; 14.51% Explanation

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