Maturity bond-assume annual coupon payments

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What is the yield to call of a 20 year maturity bond that pays a coupon rate of 6.54 percent per year, has $1000 par value, and is currently priced at $1104? The bond can be called back in 7 years at a call price of 1056. Assume annual coupon payments. Round to the nearest two decimal place.

Reference no: EM131047331

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