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5 you bought one of Great White Shark Repellant Co.s 11 percent coupon bonds one year ago for $800. These bonds make annual payments and

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you bought one of Great White Shark Repellant Co.s 11 percent coupon bonds one year ago for $800. These bonds make annual payments and mature 7 years from now. Suppose you decide to sell your bonds today, when the required return on the bonds is 15 percent. If the inflation rate was 3 percent over the past year, what was your total real return on investment?

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