问题如下：
A Benedict&Co. 8%, semiannual-pay, 4-year bond trading at 103% of par ($1,000). The bond is callable in two years at 101.5%. What is the bond's yield-to-call?
选项：
A.3.538%.
B.5.664%.
C.7.076%.
解释：
C is correct.
N=4; FV=1,015; PMT=(1,000×8%)/2=40; PV=1,000×(-103%)= -1,030; CPT→I/Y=3.5382x 2= 7.076%.
请问如果交易价格是1030，那么The bond is callable in two years at 101.5%. 这句话怎么理解，就是callable行权2年后的价格是1050，即FV，是这个意思吗？
