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27. Suppose that today you buy a bond with a coupon rate of 10% (with annual coupon payments) for $1,150. The bond has 15 years

27. Suppose that today you buy a bond with a coupon rate of 10% (with annual coupon payments) for $1,150. The bond has 15 years to maturity. Assume a par, or face value of $1,000. What rate of return do you expect to earn on your investment?

6.91%
7.92%
8.22%
8.34%
None of the above

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