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Question 12 25 pts Suppose an investor with a 6-year investment horizon purchased a 20-year bond paying an 8% annual coupon rate making semiannual coupon

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Question 12 25 pts Suppose an investor with a 6-year investment horizon purchased a 20-year bond paying an 8% annual coupon rate making semiannual coupon payments) when the yield to maturity is 10% at a price of $828.41. The investor expects that he can reinvest the coupon at an annual interest rate of 5%. At the beginning of year 7. he expects the then yield to maturity will be 8%. What is the total return for this bond! Please clearly list the steps involved in the calculation

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