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QUESTION
Regal Health Plans issued a 12% annual coupon bond with a $1,000 par value a few years ago. The bond now has ten years remaining to maturity and...
Regal Health Plans issued a 12% annual coupon bond with a $1,000 par value a few years ago. The bond now has ten years remaining to maturity and sells for $1,100. The bond has a call provision that allows Regal to call the bond in four years at a call price of $1,060. What is the bond's yield to maturity?
