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A mortgage bond issued by Automation Engineering is for sale for $7,600. The bond has a face value of $10,000 with a coupon rate of

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A mortgage bond issued by Automation Engineering is for sale for $7,600. The bond has a face value of $10,000 with a coupon rate of 12% per year, payable quarterly. What rate of return will be realized if the purchaser holds the bond to maturity 8 years from now? The rate of return will be %per year

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