3. An investor bought 10 Ellis Industries, Inc. long-term bonds 1 year ago, when they were first issued by the company. In addition, he bought 200 shares of the companys common stock at the same time for $30 per share. He paid $1,000 each for the bonds, and today, the bonds are selling at $950 each (long-term interest rates have increased slightly over the past year). The bonds have a stated interest rate of 12 percent per year. The investor received an interest payment equaling $60 per bond 6 months ago and has just received another $60 per bond interest payment. Calculate the investors percentage holding period return for the 1 year he has held the bonds.