What is the yield to call on a bond that has an 8 percent coupon paid annually, $1000 face value, 10 years to maturity and is first callable in 6 years? The current market price is $1100. The call price is the face value plus 1-year's interest.( )
N=6; PV=-1100.00; PMT=80; FV=1080; CPT I/Y=7.02%.