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BOND RETURNS Last year Janet purchased a $1,000 face value corporate bond with an 11% annual coupon rate and a 20-year maturity. At the time

BOND RETURNS

Last year Janet purchased a $1,000 face value corporate bond with an 11% annual coupon rate and a 20-year maturity. At the time of the purchase, it had an expected yield to maturity of 9.33%. If Janet sold the bond today for $1,120.06, what rate of return would she have earned for the past year? Do not round intermediate calculations. Round your answer to two decimal places. (please use excel)

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