Maturity bond that pays a coupon rate

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What is the yield to call of a 28-year to maturity bond that pays a coupon rate of 9.36 percent per year, has a $1,000 par value, and is currently priced at $1,049.50? The bond can be called back in 4 years at a call price $1,060. Assume annual coupon payments.

Round the answer to two decimal places in percentage form.

Reference no: EM131890567

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