In early January $2014,$ you purchased $$82,000$ worth of some high$-$grade corporate bonds. The bonds carried a coupon of $8\%$ and mature in $2027.$

You paid $101\mathrm{.}808$ 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 holdina neriod return for $2014$ is $\%($Round to two decimal nlaces$)$

Data table