Cotner Industries has a bond outstanding with a 30-year matu…

Cotner Industries has a bond outstanding with a 30-year maturity, a 10% annual coupon rate, and a $1,000 par value.  The bond has a 7% yield to maturity, but it can be called in 8 years at a price of $1,100.  What is the bond’s yield to call?  [Hint:  Be sure to carry out your calculation to 4 decimal places if calculating this answer as a decimal or to 2 decimal places if calculating this answer as a percentage.]  

Participant instructions for the multiple choice exam We wil…

Participant instructions for the multiple choice exam We will now begin the multiple-choice exam. You will have two hours to complete this exam. This is a closed book exam. Syllabus and references may not be used. If English is not your first language, a translation dictionary is allowed. Candidates are permitted to use only one site for translation. You may open a new browser tab and enter: translate.google.com When answering the test questions, please be sure that your answer is selected before moving on to the next question. You will be given a chance to review your answers before submitting your test. You may leave test questions blank if you do not know the answer. When you have completed these activities, you may sign out of your account and close all internet browsers. All completed examinations will be transmitted to the Academy. We will score the examinations and notify you by email of your pass/fail results within six to eight weeks of the test date.  Thank you for your participation today and good luck.