Your grandmother currently owns bonds that will mature in 7 years. The face value of these bonds is $1,000 and their coupon rate is 8%, with interest paid annually. Currently the yield to maturity is 12%. She purchased these bonds a year ago at a price of $1,000 and has just received her annual coupon interest payment. 

What is her return on the holding period of her bonds? (Use annual compounding.) Show all work, not in excel