Six years ago the singleton company issued 30-year bonds, Ask an Expert

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Six years ago the Singleton Company issued 30-year bonds with a 13% annual coupon rate at their $1,000 par value. The bonds had a 8% call premium, with 5 years of call protection. Today Singleton called the bonds. Compute the realized rate of return for an investor who purchased the bonds when they were issued and held them until they were called. Round your answer to two decimal places.

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