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Seven years ago the Templeton Company issued 21-year bonds with an 11% annual coupon rate at their $1000 par value The bonds had a 6% call premium with 5 years of call protection

Seven years ago the Templeton Company issued 21-year bonds with an 11% annual coupon rate at their $1,000 par value. The bonds had a 6% call premium, with 5 years of call protection. Today Templeton 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.

Aug 16 2020 View more View Less

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