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Suppose a Midwest Telelphone and Telegraph (MTT) Company bond maturing in 1 year can be purchased today for $975. Assuming that the bond is held

Suppose a Midwest Telelphone and Telegraph (MTT) Company bond maturing in 1 year can be purchased today for $975. Assuming that the bond is held until maturity, the investor will receive $1,000 (principal) plus 6 percent interest (that is ,0.06 x $1,000 = $60). Determine the percentage holding period return on this investment.

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