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You purchased a 5-year, 6% coupon bond 1 year ago. At the time you purchased the bond, the yield to maturity was 7%. If you
You purchased a 5-year, 6% coupon bond 1 year ago. At the time you purchased the bond, the yield to maturity was 7%. If you sold the bond after receiving the first two interest payments and the bond's yield to maturity had changed to 8%, your annual total rate of return on holding the bond for that year would have been approximately _________.
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