Problem regarding the bond nominal yield to call

Reference no: EM131030017

Keenan Industries has a bond outstanding with 10 years to maturity, an 8.25% nominal coupon, semi-annual payments, and a $1,000 par value. The bond has a 6.50% nominal yield to maturity, but it can be called in 5 years at a price of $1,120. What is the bond's nominal yield to call?

Reference no: EM131030017

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