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You bought one of Glenelm Co.'s 8 percent coupon bonds one year ago for$1,030. These bonds make annual payments and mature in six years from now. Suppose you decide to sell your bonds today, when the required return on the bonds is 7 percent. Assume the face value of the bond is $1,000. If the inflation rate was 4.2 percent over the past year, what was your total real return on investment?

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