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An investor bought a bond at par and held it for one year. If the coupon rate is 5 percent, residual maturity of the bond

An investor bought a bond at par and held it for one year. If the coupon rate is 5 percent, residual maturity of the bond is 8 years, and the yield to maturity of the bond when it was sold was 6 percent, what is the holding period return of the bond?

a) 5%

b) 6%

c) -1.21%

d) -1.23%

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