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Q3 (Bondholders' expected rate of return) Zenith Co.'s bonds mature in 18 years and pay 11 percent interest annually. If you purchase the bonds for

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(Bondholders' expected rate of return) Zenith Co.'s bonds mature in 18 years and pay 11 percent interest annually. If you purchase the bonds for $1,175, what is your expected rate of return? Your expected rate of return is %. (Round to two decimal places.)

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