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What is the yield to call of a 23-year to maturity

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What is the yield to call of a 23-year to maturity bond that pays a coupon rate of 8.80 percent per year, has a $1,000 par value, and is currently priced at $940.82? The bond can be called back in 4 years at a call price $1,036. Assume annual coupon payments.

Round the answer to two decimal places in percentage form. (Write the percentage sign in the "units" box)

You should use approximate formula for YTC

Reference no: EM131856420

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