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Rudy purchased a 7% coupon rate bond one year ago for its face value of $1,000. He bought the bond just after the coupon date.
Rudy purchased a 7% coupon rate bond one year ago for its face value of $1,000. He bought the bond just after the coupon date. Yesterday the bond paid its annual coupon. The bond currently has 10 years until maturity and has a yield to maturity of 9.23%. If Rudy sells the bond today, then what is his percentage return for the last year?(round to two decimal places)
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