Question: 8. Problem 7.17 (Bond Returns) eBook Problem Walk Through Last year Janet purchased a $3,000 face value corporate bond with an 11% annual coupon rate

8. Problem 7.17 (Bond Returns) eBook Problem Walk Through Last year Janet purchased a $3,000 face value corporate bond with an 11% annual coupon rate and a 20-year maturity. At the time of the purchase. It had an expected yield to maturity of 11.47% 1 Janet sold the bond today for $1.044.74, 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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