Callable bonds can be redeemed by the issuing corporation at the fair market price of the bonds.

Name: Callable bonds can be redeemed by the issuing corporation at the fair market price of the bonds.
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Question

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Callable bonds can be redeemed by the issuing corporation before their maturity date at a specified call price, which is typically set at the time of issuance and may be above the bond's face value, not necessarily at the fair market price.

Callable Bonds Can Be Redeemed by the Issuing Corporation at the Fair