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Last year, Sally purchased a $1,000 face value corporate bond with an 11.3 percent annual coupon rate and a 17-year maturity. At the time of

Last year, Sally purchased a $1,000 face value corporate bond with an 11.3 percent annual coupon rate and a 17-year maturity. At the time of the purchase, it had an expected yield to maturity of 10.7 percent. If Sally sold the bond today for $1,081.60, what rate of return would she have earned for the past year?

a.

3.39%

b.

14.69%

c.

13.73%

d.

14.19%

e.

11.30%

Please show work, and what to put into a TI-83 to get the answer, thank you!

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