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Suppose that you just bought a four - year $ 1 0 0 0 coupon bond with a coupon rate of 5 . 5 %

Suppose that you just bought a four-year $1000 coupon bond with a coupon rate of 5.5% when the market interest rate is 5.5%. You sell the bond one year later after the market interest rate falls to 3.5%. The rate of return earned on the bond during the year was __%.(Round your response to two decimal places.)

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