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You buy an 8-year $1000 par value bond today that has a 5% yield and a 6% annual payment coupon. After 1 year, yields rise

You buy an 8-year $1000 par value bond today that has a 5% yield and a 6% annual payment coupon. After 1 year, yields rise to 7%. What is your 1-year holding-period return?

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