A $17$ year bond issued today by Kona, Inc. has a coupon rate of $6\%,$ a required return of

$5\%$ and a face value of $$1000.$ The bond will be sold $3$ years from now when interest rates

will be $9\%.$ What is the actual rate of return $($or holding period return$)$ over this $3$ year

period? Round to the nearest percent. $($This will be easier to answer if you've already

answered the other two questions regarding the Kona bond.$)$

$-12\%$

$1\%$

$78\%$

$-15\%$