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At one point, certain U.S. Treasury bonds were callable. Consider the prices in the following...

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At one point, certain U.S. Treasury bonds were callable. Consider the prices in the following three Treasury issues as of May 15, 2017: 05/15/2020 6.10 05/15/2020 7.15 05/15/2020 8.00 108.46875 108.53125 -.31250 3.100 109.00000 109.06250 -.09375 3.920 114.06250 114.25000 -.46875 3.000 The bond in the middle is callable in February 2018. What is the implied value of the call feature? Assume a par value of $1,000. (Hint: Is there a way to combine the two noncallable issues to create an issue that has the same coupon as the callable bond?) (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) Call value

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