Question: An issuer issues three bonds including i) a callable bond, ii) a puttable bond, and iii) a non-callable/puttable bond. These three bonds have the same

An issuer issues three bonds including i) a callable bond, ii) a puttable bond, and iii) a non-callable/puttable bond. These three bonds have the same maturity and in the same credit quality group. Which bond has the lowest yield to maturity?

Group of answer choices

the straight bond

the callable bond

equally risky

the puttable bond

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