Trickle corporations bonds have a 12 coupon rate 1000 par, Financial Management

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Trickle corporations bonds have a 12 coupon rate 1000 par

Trickle Corporation's bonds have a 12% coupon rate, $1,000 par, and mature in 25 years. Interest is paid semi-annually. The bonds are callable at a price of $1,100 five years from now. They currently sell for $1,230 in the market. What is the bonds' approximate yield to call? Answer is 8.07%. Need to know how I got this, show work

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Financial Management: Trickle corporations bonds have a 12 coupon rate 1000 par

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