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Last year Janet purchased a $ 1 , 0 0 0 face value corporate bond with an 8 % annual coupon rate and a 1

Last year Janet purchased a $1,000 face value corporate bond with an 8% annual coupon rate and a 10-year maturity. At the time of the purchase, it had an expected yield to
maturity of 8.9%. If Janet sold the bond today for $1,079.44, what rate of return would she have earned for the past year? Do not round intermediate calculations. Round your
answer to two decimal places.
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