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Suppose you buy a 3-year bond with a coupon rate of 12% (annual payments) and a yield to maturity of 10%. The par value is

Suppose you buy a 3-year bond with a coupon rate of 12% (annual payments) and a yield to maturity of 10%. The par value is $1000. You hold the bond until maturity. Suppose the coupon is reinvested at 8%. The realized rate of return is: (please show steps and formulas used)

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