Last year joan purchased a 1000 face value corporate bond, Ask an Expert

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Last year, Joan purchased a $1,000 face value corporate bond with an 9% annual coupon rate and a 20-year maturity. At the time of the purchase, it had an expected yield to maturity of 11.03%. If Joan sold the bond today for $971.38, what rate of return would she have earned for the past year?

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