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A bond has a face value of $25000 and pays an annual coupon rate of 6.9%. The bond is selling for $24470 now and is

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A bond has a face value of $25000 and pays an annual coupon rate of 6.9%. The bond is selling for $24470 now and is expected to be sold for $25170 one year from now. What is the bond's expected rate of return? Answer: (DO NOT ROUND YOUR CALCULATIONS UNTIL YOU REACH THE FINAL ANSWER. ENTER YOUR RESPONSE ROUNDED TO TWO DECIMAL PLACES.)

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