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A company issues a callable (at par) ten-year, 6% coupon bond with annual coupon payments. The bond can be called at par in one year after release or any time after that on a coupon payment date. On release, it has a price of $104 per $100 of face value. What is the yield to call of this bond when it is released?

▸ 1.92%

▸ 5.47%

▸ 0.60%

▸ 1.50%
Textbook 
Fundamentals of Corporate Finance
Edition: 2nd
Authors:
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