4. Two 20-year old bonds are identical in all respects except that one allows the issuer to call the bond in return for $1000 cash at any time after five years while the other contains no call provisions. Will theyield to maturityon the two bonds differ? If so which will be higher?6. Information about three securities appears below.Beginning-of-year price End-of-year Price Interest/dividend paidStock 1 $42.50 $46.47 $1.50Stock 2 $1.25 $1.36 $0.00Stock 3 $1020 $1048 $41.00a. Assuming interest and dividends are paid annually calculate the annualholding periodreturn on each security.b. During the year management of Stock 2 spent $10 million or $0.50 per share repurchasing 7.7million of the companys shares. How if at all does this information affect calculation of the holding period return on Stock 2?