Realized yield or annual return for holding the bond

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Reference no: EM131898013

Joe Morgan bought a Coca-Cola bond three years ago for $975.50. Over the past three years, the bond paid a 9.00% annual coupon (Assume $1,000 face value). Today, Joe sold the bond for $1,008.13.

Calculate his realized yield or annual return for holding the bond over the past three years.

Reference no: EM131898013

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