Meacham Enterprises' bonds currently sell for $1,280 and have a par value of $1,000.They pay a $135 annual coupon and have a 15-year maturity, but they can be called in 5 years at $1,050.What is their yield to call (YTC) ?
A) 6.39%
B) 6.72%
C) 7.08%
D) 7.45%
E) 7.82%
Correct Answer:
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