A bond has a face value of $1,000, a coupon of 5% paid annually, a maturity of 40 years, and a yield to maturity of 8%. What rate of return will be earned by an investor who purchases the bond for $642.26 and holds it for 1 year if the bonds yield to maturity at the end of the year is 9%?(Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places. Negative amount should be indicated by a minus sign.)

Rate of return

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