Coupon bond-what is the yield to call of the bond

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Reference no: EM131044064

A 6.70 percent coupon bond with 28 years left to maturity can be called in nine years. The call premium is one year of coupon payments. It is offered for sale at $1,136.95. What is the yield to call of the bond? (Assume interest payments are semiannual.) (Round your answer to 2 decimal places.)

Reference no: EM131044064

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