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Suppose an 8% semiannual coupon, 30-year bond is selling at $1,276.76. What average rate of return would be earned by an investor purchasing the bond

Suppose an 8% semiannual coupon, 30-year bond is selling at $1,276.76. What average rate of return would be earned by an investor purchasing the bond at this price (be sure to put the rate in an annual form after solving with your calculator)?

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