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Suppose that today you buy a coupon bond with 9 percent annual coupon rate for $1,000. The bond has 12 years to maturity. One years

Suppose that today you buy a coupon bond with 9 percent annual coupon rate for $1,000. The bond has 12 years to maturity. One years from now, the yield to maturity has declined to 7 percent and you decide to sell. What is your holding period return?

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