Question: Bond return? Bond returns Last year, Joan purchased a $1,000 face value corporate bond with an 12% annual coupon rate and a 30-year maturity. At

Bond return?

Bond returns Last year, Joan purchased a $1,000 face value corporate bond with an 12% annual coupon rate and a 30-year maturity. At the time of the purchase, it had an expected yield to maturity of 12.99%. If Joan sold the bond today for $1,054.77, what rate of return would she have earned for the past year? Round your answer to two decimal places.

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