The Following Information Relates to Questions
a Bond with 5

The following information relates to Questions
A bond with 5 years remaining until maturity is currently trading for 101 per 100 of par value. The bond offers a 6% coupon rate with interest paid semi-annually. The bond is first callable in 3 years, and is callable after that date on coupon dates according to the following schedule: $\begin{array}{lc}\text { End of Year } & \text { Call Price } \\\hline 3 & 102 \\4 & 101 \\5 & 100 \\\hline\end{array}$

-The bond's annual yield-to-first-call is closest to:

A) 3.12%.
B) 6.11%.
C) 6.25%.