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An investor buys a $ 1 0 , 0 0 0 1 year TIP security with a 3 . 5 % coupon at par. Suppose

An investor buys a $10,0001 year TIP security with a 3.5% coupon at par. Suppose that the CPI
increases by 2% in the first six months the investor holds the bond and the CPI increases by 2.5% in the
second six months. What is the MIRR of this investment?
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