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A bond has a face value of $1,000, a coupon of 5% paid annually, a maturity of 31 years, and a yield to maturity of

A bond has a face value of $1,000, a coupon of 5% paid annually, a maturity of 31 years, and a yield to maturity of 8%. What rate of return will be earned by an investor who purchases the bond for $659.51 and holds it for 1 year if the bond's yield to maturity at the end of the year is 9%? answer rounded to two decimal places

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