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Required: You buy a nine-year maturity bond that has a 8.50% current yield and a 8.50% coupon (paid annually). In one year, promised yields to

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Required: You buy a nine-year maturity bond that has a 8.50% current yield and a 8.50% coupon (paid annually). In one year, promised yields to maturity have risen to 9.50%. What is your holding-period return? (Do not round intermediate calculations. Round your answer to 2 decimal places.) Holding-period return %

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