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An investor with a 3-year investment horizon wants to buy a 20-year 8% coupon bond for $82.84, with YTM as 10%. He expects to be

An investor with a 3-year investment horizon wants to buy a 20-year 8% coupon bond for $82.84, with YTM as 10%. He expects to be able to reinvest the coupon interests at 6%, and 3 years later he can sell the bond to offer a YTM of 7%. What is the total expected return of this investment?

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