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(Bondholders' expected rate of return) Sakara Co. bonds are selling in the market for $1,050. These 9-year bonds pay 13 percent interest annually on a

(Bondholders' expected rate of return) Sakara Co. bonds are selling in the market for $1,050. These 9-year bonds pay 13 percent interest annually on a $1,000 par value. If they are purchased at the market price, what is the expected rate ofreturn?

The bond's expected rate of return _____? (Round to two decimal places.)

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