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A B-rated bond is selling at par on 18 July 2012 . The bond's maturity is on 17 July 2022. It has a coupon (paid

A B-rated bond is selling at par on 18 July 2012 . The bond's maturity is on 17 July 2022. It has a coupon (paid annually on 17 July) of 13%, and it has a recovery percentage of =58%. Given the following transition matrix: =10050020000900050000.040880000010.050000011 What is the bond's expected return (Hint: use XIRR to find the expected yield from the expected payoffs)? Show the necessary steps and formula in your Excel file sheet named A B-rated bond is selling at par on 18 July 2012 . The bond's maturity is on 17 July 2022. It has a coupon (paid annually on 17 July) of 13%, and it has a recovery percentage of =58%. Given the following transition matrix: =10050020000900050000.040880000010.050000011 What is the bond's expected return (Hint: use XIRR to find the expected yield from the expected payoffs)? Show the necessary steps and formula in your Excel file sheet named

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