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XZYY , Inc. currently has an issue of bonds outstanding that will mature in 3 4 years. The bonds have a face value of $

XZYY, Inc. currently has an issue of bonds outstanding that will mature in 34 years. The bonds have a face value of $1,000 and a stated annual coupon rate of 18% with annual coupon payments. The bond is currently selling for $1114. The bonds may be called in 4 years for 121% of par value. What is your expected quoted annual rate of return if you buy the bonds and the company calls them when possible?
17.81%
16.15%
19.58%
14.79%
12.11%

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