At one point, certain U.S. Treasury bonds were callable. Consider the prices in the following three Treasury issues as of May 15. 2017: 05/15/2020 6.90 108.96875 109.03125-31250 3.690 05/15/2020 7.95 109.50000 109.56250 -09375 4.510 05/15/2020 9.25 114.56250 114.75000 -46875 3.980 ed The bond in the middle is callable in February 2018. What is the implied value of the call feature? Assume a par value of $1,000. (Hint: Is there a way to combine the two noncallable issues to create an issue that has the same coupon as the callable bond?) ok nt ences (Do not round intermediate calculations and round your answer to 2 decimal places e.g.32.16.) Call value At one point, certain U.S. Treasury bonds were callable. Consider the prices in the following three Treasury issues as of May 15. 2017: 05/15/2020 6.90 108.96875 109.03125-31250 3.690 05/15/2020 7.95 109.50000 109.56250 -09375 4.510 05/15/2020 9.25 114.56250 114.75000 -46875 3.980 ed The bond in the middle is callable in February 2018. What is the implied value of the call feature? Assume a par value of $1,000. (Hint: Is there a way to combine the two noncallable issues to create an issue that has the same coupon as the callable bond?) ok nt ences (Do not round intermediate calculations and round your answer to 2 decimal places e.g.32.16.) Call value