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Consider a 10-year bond with 7 percent coupon rate. An investor purchased this bond while the yield to maturity was 8 percent. 3-year later the

Consider a 10-year bond with 7 percent coupon rate. An investor purchased this bond while the yield to maturity was 8 percent. 3-year later the investors sells this bond while the yield is 7 percent. What is the annual return from this investment? Show steps for each calculation.

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