One vear ago, an investor purchased a 10-year 8% annual coupon bond at par of $1,000. Today (with 9 ysars to maturity the bond is priced to yield 7.00%. If the bond is sold, what is the total return to the investor Interest plus appreciation) for the 1-year holding period?

Hat The total return includes the coupon rate plus the appreciation (or depreciation) due to the change in rates. Therefore, calculate the current price based on the yield, and then calculate the total return over 1year based on that price and the coupon payment.

Your answer should be between 6.32 and 17.42, rounded to 2 decimal places, with no special characters.