YIELD TO CALL It is now January 1 , 2009 , and you are considering the purchase of an outstanding bond that was issued on January 1, 2007. It has a 9.5 % annual couporn and had a 30 - year original maturity . ( It matures on December 31 , 2036. ) There is 5 years of call protection ( until December 31 , 2011 ) , after which time it can be called at 109 - that is , at 109% of par , or $1,090. Interest rates have declined since it was issued ; and it is now selling at 116.575 % of par , or $ 1,165.75 . a.What is the yield to maturity? What is the yield to call? b.If you bought this bond , which return would you actually earn ? Explain your reasoning c.Suppose the bond had been selling at a discount rather than a premium . Would the yield to maturity have been the most likely return , or would the yield to call have been most likely? PLS PROVIDE DETAILED ANSWER, WRITE CLEAR FORMULAS AND NUMBERS AND DONT USE FINANCIAL CALCULATOR METHOD.