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Problem 10-23 Calculating Investment Returns You bought one of Colton Manufacturing Co.'s 8.5 percent coupon...

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Problem 10-23 Calculating Investment Returns You bought one of Colton Manufacturing Co.'s 8.5 percent coupon bonds one year ago for $1,064. These bonds make annual payments and mature eleven years from now. Suppose you decide to sell your bonds today when the required return on the bonds is 6 percent. The par value is $1,000. If the inflation rate was 3.8 percent over the past year, what would be your total real return on the investment? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) X Answer is complete but not entirely correct. Total real return 44.61 %

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