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You buy an 7-year $1,000 par value bond today that has a 5.40% yield and a 5.40% annual payment coupon. In 1 year promised yields

You buy an 7-year $1,000 par value bond today that has a 5.40% yield and a 5.40% annual payment coupon. In 1 year promised yields have risen to 6.40%. Your 1-year holding-period return was ___.

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