A 20-yr bond has 5% coupon and you purchase it at a 5.25% yield. You reinvest any coupon at 5% and sells after a two-year holding period at a 5.25% yield. Your ROR is: 3 points

Group of answer choices

a) above 5.25%

b) 5.25%

c) between (but not equal to) 5% & 5.25%

d) 5%

e) below 5%