Question: 4. Problem 7.17 (Bond Returns) eBook Problem Walk-Through Last year Janet purchased a $1,000 face value corporate bond with a 9% annual coupon rate and

4. Problem 7.17 (Bond Returns)

eBook Problem Walk-Through

Last year Janet purchased a $1,000 face value corporate bond with a 9% annual coupon rate and a 10-year maturity. At the time of the purchase, it had an expected yield to maturity of 7.72%. If Janet sold the bond today for $1,075.23, what rate of return would she have earned for the past year? Do not round intermediate calculations. Round your answer to two decimal places.

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