1. Last year, Edna purchased a $1,000 face value corporate bond with an 11.2 percent annual coupon rate and a 14-year maturity. At the time of the purchase, it had an expected yield to maturity of 11.7 percent. If Edna sold the bond today for $929.20, what rate of return would she have earned for the past year?

   	a.	11.20%
   	b.	8.06%
   	c.	3.84%
   	d.	7.36%
   	e.	7.75%