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SHELLY INC BONDS HAVE A 9 PERCENT COUPON RATE. THE INTEREST IS PAID ANNUALLY AND THE BONDS MATURE IN 10 YEARS. THE PAR VALUE IS
SHELLY INC BONDS HAVE A 9 PERCENT COUPON RATE. THE INTEREST IS PAID ANNUALLY AND THE BONDS MATURE IN 10 YEARS. THE PAR VALUE IS $1,000 AND THE BONDS ARE CURRENTLY SELLING FOR $830.49. WHAT IS THE BOND'S EXPECTED ANNUAL RATE OF RETURN?
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