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You purchase a 15-year $1000 par value 8% coupon bond with annual payments with a yield to maturity of 12%. 1 year later after receiving

You purchase a 15-year $1000 par value 8% coupon bond with annual payments with a yield to maturity of 12%. 1 year later after receiving a coupon payment the yield to maturity has decreased to 10% and you sell the bond. What is your total rate of return on the investment over the year?

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