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The market price is $900 for a 16-year bond ($1,000 par value) that pays 9 percent interest (4.5 percent semiannually). What is the bond's expected

The market price is $900 for a 16-year bond ($1,000 par value) that pays 9 percent interest (4.5 percent semiannually). What is the bond's expected rate of return?

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