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Which of the following statements regarding callable bonds is most accurate? Callable bonds: A. typically require that the issuer pay a premium above par to call the issue, and the amount of this premium usually declines as the bond approaches maturity. B. are likely to be called when interest rates have increased. C. that have a deferred call feature allow the bondholder to defer the call for up to 5 years. D. may not be called at par value--there must be at least a slight call premium to compensate the holder for losing the bond. |