Question: 9-4: Bond Yields 9-5: Changes in Bond Values Over Time Bond returns Last year, Joan purchased a $1,000 face value corporate bond with an 8%3

9-4: Bond Yields 9-5: Changes in Bond Values Over Time Bond returns Last year, Joan purchased a $1,000 face value corporate bond with an 8%3 annual coupon rate and a 25 -year maturity. At the time of the purchase, it had an expected yield to maturity of 8.38%. If Joan sold the bond today for $976.9, what rate of return would she have earned for the past year? Round your answer to two decimal places. %

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