The return an investor earns on a bond over a period of time is known as the holding period return, defined as interest income plus or

minus the change in the bond's price, all divided by the beginning bond price.

a$.$ What is the holding period return on a bond with a par value of $$1,000$ and a coupon rate of $4\mathrm{.}5$ percent if its price at the beginning

of the year was $$1,085$ and its price at the end was $$970?$ Assume interest is paid annually.

Note: Negative value should be indicated by parenthesis. Round your answer to $2$ decimal places.