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Last year Janet purchased a $1,000 face value corporate bond with an 9% annual coupon rate...

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Finance

Last year Janet purchased a $1,000 face value corporate bondwith an 9% annual coupon rate and a 25-year maturity. At the timeof the purchase, it had an expected yield to maturity of 10.24%. IfJanet sold the bond today for $1,051.86, what rate of return wouldshe have earned for the past year? Do not round intermediatecalculations. Round your answer to two decimal places.

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