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Four years ago, Tango Company sold a 2 0 - year bond issue with a 1 2 % coupon rate ( paid annually ) and

Four years ago, Tango Company sold a 20-year bond issue with a 12% coupon rate (paid annually) and a 10% call premium. Today, Tango calls the bonds. The bonds originally were sold at their face value of $1,000. Compute the realized return per year (also called the holding period yield or return) for investors who purchased the bonds when they were issued and who surrender them today in exchange for the call price.
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