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Three years ago Amy bought a 10-year, 8% coupon bond and bonds yield at the time of the purchase was 7.85%. The coupon is paid

Three years ago Amy bought a 10-year, 8% coupon bond and bonds yield at the time of the purchase was 7.85%. The coupon is paid annually. Amy sold the bond this morning when the bonds yield was quoted at the level of 5.65%. What was Amys rate of return on the investment?

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