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Wash bought a 1 6 . 5 % bond price at 9 0 % of par that had 3 4 years until it matures. 1

Wash bought a

16.5 %

bond price at

90 %

of par that had

34

years until it matures.

1

year later the yield to maturity on this bond is

11.4 % .

What return did he earn on this bond?

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