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On July 1, 2006, you purchase a $1,000 par value 10-year Note with a 9% coupon rate at a price of $600 for a yield to maturity (YTM) of 14%. On January 1, 2009, the Note has a value of $975 and an YTM of 9.5% and was sold. Assuming the original purchase reinvestment rate, what was the total holding period return on the investment?

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