What is the yield to call of a 20-year to maturity bond that pays a coupon rate of 14.22 percent per year, has a $1,000 par value, and is currently priced at $1,219?
What is the yield to call of a 20-year to maturity bond that pays
a coupon rate of 14.22 percent per year, has a $1,000 par value, and is currently priced at $1,219? The bond can be called back in 10 years at a call price $1,096. Assume annual coupon payments.
Round the answer to two decimal places in percentage form.
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