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Investor buys a bond for $900. Bond pays $40 annual interest coupon. Investor holds bond for 5 years, reinvesting each interest coupon at 7%. 5

Investor buys a bond for $900. Bond pays $40 annual interest coupon. Investor holds bond for 5 years, reinvesting each interest coupon at 7%. 5 years later investor sells the bond for $1120. What was the total return for the investor? (round your answer to 2 decimal places).

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