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You buy a bond with a $1000 par value, 7.5% annual coupon, and 14 years remaining with a YTM of 6.5%. If you sell the

You buy a bond with a $1000 par value, 7.5% annual coupon, and 14 years remaining with a YTM of 6.5%. If you sell the bond 5 years later and its YTM has decreased by 1% from when you bought it, what is your annual HPR?

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