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Toko Inc. 's bonds currently sell for $880 and have a par value of $1,000. They pay a $66 annual coupon and have a 11-yearmaturity,

Toko Inc. 's bonds currently sell for $880 and have a par value of $1,000. They pay a $66 annual

coupon and have a 11-yearmaturity, but they can be called in 6 years at $1,100. What is their yield to

maturity(YTM)?

a. 8.31%

b. 6.66%

c. 8.66%

d. 8.02%

e. 7.38%

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