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A newly issued bond pays its coupons once annually. Its coupon rate is 8.7%, its maturity is 20 years, and its yield to maturity is

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A newly issued bond pays its coupons once annually. Its coupon rate is 8.7%, its maturity is 20 years, and its yield to maturity is 10.5% p.a.. Assume you purchase the bond at issuance. Find the holding-period return for a 1-year investment period, if the bond is selling at a yield to maturity of 9.5% p.a. by the end of the year right after you recieving the first coupon payment. 19.48% 9% 12.59% 14.09%

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