What is the bonds yield to call

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IBM has just issued a callable (at par) 5 year, 20% coupon bond with annual coupon payments. The bond can be called at par in one year or anytime thereafter on a coupon payment date. It has a price of $111 per $100 face value. What is the bond's yield to call? Express your answers in strictly numerical terms.

Reference no: EM131297372

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