Question: 8. Please round two decimals question: 3 point(s) possible (Bondholders' expected rate of return) You own a bond that has a par value of $1,000

8. Please round two decimals

question: 3 point(s) possible (Bondholders' expected rate of return) You own a bond that has a par value of $1,000 and matures in 14 years. It pays an annual coupon rate of 11 percent. The bond currently sells for $1,050. What is the bond's expected rate of return? The bond's expected rate of return is %. (Round to two decimal places.)

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