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(Bondholders' expected rate of return) Zenith Co.'s bonds mature in 16 years and pay 11 percent interest annually. If you purchase the bonds for $825,

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(Bondholders' expected rate of return) Zenith Co.'s bonds mature in 16 years and pay 11 percent interest annually. If you purchase the bonds for $825, what is your expected rate of return? Your expected rate of return is %. (Round to two decimal places.)

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