21. Problem 7.os (Yield to Call) eBook Six years age the Templeton Company issued 17-year bonds with a 15% annual coupon rate at their $1.000 par value. The bends had a 9% call premium, with 5 years of call protection. Today Templeten called the bonds. Compute the realized rate of retu for an investor who purchased the bonds when they were issued and held them unel they were called. Round your aner to two decimal places why sheuld or should net the invester be happy that Templeton called them 1 Investors should be happy. Since the bonds have been called, interest rates must have rises sufficienly such that the YTc is greater than the YTM. If investers wish to reinvest their interest receipts, they can now do se at higher interest rates n. Investors should be happy. Since the bonds have been called. investors will receive a call premium and can declare a captal gain on their tax returns m. Investers should be happy. Since the bonds have been called. investors will no lenger need to consider reinvesment rate risk V. Investers should not be hapey. Since the bonds have been caled, interest raes must have fallen sufficiently such that the VTC is less than the YTM. 1f invesors wish to reinvest their interest receipts, they must do so at lower interest rates elet