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You purchased an annual interest coupon bond one year ago that had 6 years remaining to maturity at that time. The coupon interest rate was

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You purchased an annual interest coupon bond one year ago that had 6 years remaining to maturity at that time. The coupon interest rate was 10% and the par value was $1,000. At the time you purchased the bond, the yield to maturity was 8%. If you sold the bond after receiving the first interest payment and the yield to maturity rises to 9%, your annual total rate of return on holding the bond for that year would have been a. 4.25% b. 7.82% c. 8% d. 11.95%

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