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As a bond fund manager, you are considering 1 0 - year corporate bonds issued by Mellon Bank ( MB ) . Each MB bond

As a bond fund manager, you are considering 10-year corporate bonds issued by Mellon Bank (MB). Each MB bond has a $1,000 par value with 8% annual coupon rate. The coupons are paid semi-annually. The estimated rate of return on MB bond is 10%. One year later, the yield increases to 11%. What is your holding period return of the bOnd? I know the correct answer is 4.11% but please show me each step to get this solution!

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