Question: 9-5: Changes in Bond Values Over Time Bond returns Last year, Joan purchased a $1,000 face value corporate bond with an 10%, annual coupon nate

9-5: Changes in Bond Values Over Time Bond returns Last year, Joan purchased a $1,000 face value corporate bond with an 10%, annual coupon nate and a 20 -year maturity. At the time of the purchase, it nad an expected yield to maturity of 11.76%. If Joan sold the bond today for $1,091.35, what rate of retum would she have earned for the past year? loound yeur answer to two deeimel places

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