Question: Last year, you purchased a bond that had 12 years to maturity and a coupon rate of 9% at a YTM of 10%. One year

Last year, you purchased a bond that had 12 years to maturity and a coupon rate of 9% at a YTM of 10%.

One year later you sell the bond at a YTM of 7%.

What was your one year rate of return on this investment?

Enter your answer in decimals (not percent) and round your answer to 4 decimal places. For example, 0.1234.

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