If you bought this bond, would you be more likely to earn YTM or YTC?
Coupon rate = 10% vs. YTC = kd = 7.53%. Could raise money by selling new bonds which pay 7.53%.
Could thus replace bonds which pay $100/year with bonds that pay only $75.30/year.
Investors should expect a call, hence YTC = 7.5%, not YTM = 8%.