QUESTION 4

On June 1^st, 2020, Coca Cola (KO) issued bonds for one billion dollars. The bonds have a par value of $1,000, coupon rate of 2.75% payable semiannually, and 40 years maturity (maturity date: 6/1/2060).

What is the HPR (holding period return) for an investor who purchased these bonds at launch (6/1/20) for $970.30 and sold them three years later (6/1/23) for $681.83?

		-29.73% over the three years.
		-24.35% over the three years.
		-19.74% over the three years.
		-9.90% over the three years.