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Your client is considering the purchase of a bond that is currently selling for $660.72. The client wants to know what annual rate of return

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Your client is considering the purchase of a bond that is currently selling for $660.72. The client wants to know what annual rate of return can they expect to earn on the bond. The bond has 13 years to maturity, pays a coupon rate of 6.5% (payments made semi-annually), and a face value of $1000. (Round to 100 th of a percent and enter your answer as a percentage, e.g., 12.34 for 12.34% )

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