The yield to call (YTC)is:

Question

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The yield to call (YTC) is the yield an investor would expect to make if they bought the bond at the current price and held it until the call date. It takes into account the premium or discount of the bond's price and the call price, as well as the time remaining until the call date. It assumes that the bond will be called on the first possible call date, and takes into account any call premium or penalty that may be incurred. In contrast, yield to maturity (YTM) assumes that the bond is held until it matures and all payments are received on their scheduled dates. The opportunity cost of forgone coupon payments is not relevant to YTC.

The Yield to Call (YTC)is