Other Things Held Constant, If a Bond Indenture Contains a Call

Other things held constant, if a bond indenture contains a call provision, the yield to maturity that would exist without such a call provision will generally be _________________ the YTM with it.

A) higher than
B) lower than
C) the same as
D) either higher or lower, depending on the level of call premium, than
E) unrelated to

Correct Answer:

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