You are about to buy a 3-year bond with a YTM of 10%. The par value of the bond is $1,000. It makes annual coupon payments of $100.

You plan on buying the bond today (t=0) and will then sell it immediately after collecting the second coupon payment (t=2). You think that you will be able to sell the bond at a yield of 9%.

After receiving the first coupon payment at t=1, you plan on reinvesting it for one year at a rather high rate of 50.6%.

If these assumptions hold, what will the realized compound return be on this investment?