What rate of return would she have earned for past year

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Reference no: EM132016243

BOND RETURNS Last year Janet purchased a $1,000 face value corporate bond with an 10% annual coupon rate and a 25-year maturity. At the time of the purchase, it had an expected yield to maturity of 10.4%. If Janet sold the bond today for $991.11, what rate of return would she have earned for the past year? Do not round intermediate calculations. Round your answer to two decimal places. %

Reference no: EM132016243

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