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Suppose that you just bought a four-year $1000 coupon bond with a coupon rate of 5.7% when the market interest rate is 5.7%. One year
Suppose that you just bought a four-year $1000 coupon bond with a coupon rate of 5.7% when the market interest rate is 5.7%. One year later, the market interest rate falls to 3.7%. The rate of return earned on the bond during the year was nothing( )%. (Round your response to two decimal places.)
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