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You buy a 12-year 8 percent annual coupon bond at par value, $1,000. You sell the bond 3 years later for $1,150. What is your

You buy a 12-year 8 percent annual coupon bond at par value, $1,000. You sell the bond 3 years later for $1,150. What is your rate of return over this 3 year period?

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