In early January $2014,$ you purchased $$103,000$ worth of some high$-$grade corporate bonds. The bonds carried a coupon of $11\%$ and mature in $2027.$ You paid $102\mathrm{.}065$ when you bought the bonds. Over the five years from $2014$ through $2018,$ the bonds were priced in the market as follows: Annual coupon payments were made on schedule throughout the five$-$year period.

a$.$ Find the annual holding period returns for $2014$ through $2018.($See Chapter $5$ for the HPR formula.$)$

b$.$ Use the average return information in the given table to evaluate the investment performance of this bond. How do you think it stacks up against the market? Explain.

a$.$ The holding period return for $2014$ is

$\%.($Round to two decimal places.$)$

Data table

$\backslash$table$[[$Year$,$Quoted Prices $(\%$ of $$1,000$ par value$),\backslash$table$[[$Average Holding Period Return$],[$on Treasury Bonds$]]],[\backslash$table$[[$Beginning$],[$of the Year$]],\backslash$table$[[$End of$],[$the Year$]]],[2014,102\mathrm{.}065,109\mathrm{.}885,-8\mathrm{.}90\%$