Determine the bonds approximate yield to call, Financial Management

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Determine the bonds approximate yield to call

A certain bond has a coupon rate of 12 percent, and is currently selling for $800. The bond matures in 12 years and is callable in three years. At call which the bond will pay a call premium of 10%. Determine the bond's approximate yield to call (AYC). (Circle your answer.)

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Financial Management: Determine the bonds approximate yield to call

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