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A year ago, you bought a bond with a coupon rate of 4 . 7 % , just after it paid its semiannual coupon. The

A year ago, you bought a bond with a coupon rate of 4.7%, just after it paid its semiannual coupon. The bond had 22 years to maturity, a face value of $1,000 and a yield to maturity of 3%.Shortly after buying the bond, yields changed to 4.5%. You reinvested the first coupon at the new market interest rate. What is your realized yield if you sell the bond now, one year after buying it?

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