In the market, 12% ₹100 debentures are available at a price of ₹96 per debenture, the expenses (brokerage and securities transaction tax) at the time of purchase of shares is Re. 1 per debenture. Only one year is left to maturity, it has a provision of redemption at par on maturity. If an investor purchases it today then calculate the holding period return for him/her.