Question: Click here to read the eBook: Bond Yields Click here to read the eBook: Changes in Bond Values over Time BOND RETURNS Last year Janet

Click here to read the eBook: Bond Yields Click here to read the eBook: Changes in Bond Values over Time

BOND RETURNS

Last year Janet purchased a $1,000 face value corporate bond with an 11% annual coupon rate and a 25-year maturity. At the time of the purchase, it had an expected yield to maturity of 12.28%. If Janet sold the bond today for $1,132.16, what rate of return would she have earned for the past year? Do not round intermediate calculations. Round your answer to two decimal places.

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