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Homework: Chapter 7 HW Save Score: 0 of 1 pt 16 of 22 (3 complete) HW Score: 13.64%, 3 of 22 pts Problem 7-8 (similar

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Homework: Chapter 7 HW Save Score: 0 of 1 pt 16 of 22 (3 complete) HW Score: 13.64%, 3 of 22 pts Problem 7-8 (similar to) Question Help (Bond valuation) ExxonMobil 17-year bonds pay 11 percent interest annually on a $1,000 par value. If the bonds sell at $1,175, what is the bonds' expected rate of return? The bonds' expected rate of return is %. (Round to two decimal places.)

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