A corporate bond with 12 years to maturity has a 9 percent semiannual coupon and a face value of $1,000. (That is, the semiannual coupon payments are $45.) The bond has a nominal yield to maturity of 7 percent. The bond can be called in three years at a call price of $1,045. What is the bond’s nominal yield to call?

Answer rating: 100% (QA)

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