You are pricing each of the following callable bonds to guarantee a minimum yield rate of i(2) = 5% compounded semi-annually and want to do as few calculations as possible. Answer the questions below with a full written explanation. Justifications using price calculations at each call date will not receive marks. a) A 15-year $1000 bond with semi-annual coupons paid at a nominal rate of 6% compounded semi-annually is callable at $1100 at the end of years 5 to 15. Which redemption date would give the highest yield when called at? Justify why. b), A 15-year $1000 bond with semi-annual coupons paid at a nominal rate of 6% compounded semi-annually is callable at $1300 at the end of years 5 to 15. Which redemption date should be used to calculate the price that will guarantee a minimum yield rate of (2) = = 5%. Justify why. You are pricing each of the following callable bonds to guarantee a minimum yield rate of i(2) = 5% compounded semi-annually and want to do as few calculations as possible. Answer the questions below with a full written explanation. Justifications using price calculations at each call date will not receive marks. a) A 15-year $1000 bond with semi-annual coupons paid at a nominal rate of 6% compounded semi-annually is callable at $1100 at the end of years 5 to 15. Which redemption date would give the highest yield when called at? Justify why. b), A 15-year $1000 bond with semi-annual coupons paid at a nominal rate of 6% compounded semi-annually is callable at $1300 at the end of years 5 to 15. Which redemption date should be used to calculate the price that will guarantee a minimum yield rate of (2) = = 5%. Justify why