A $1,000 par value bond sells for $1,216. It matures in 20 years, has a 14 percent coupon, pays interest semiannually, and can be called in 5 years at a price of $1,100. Calculate the bond's yield to maturity.
A. 6.05%
B. 10.00%
C. 10.06%
D. 8.59%
E. 11.26%
Answer: E
Business
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