Last year, Joan purchased a $1,000 face value corporate bond with an 8% annual coupon rate and a 20-year maturity. At the time of the purchase, it had an expected yield to maturity of 9.63%. If Joan...

Last year, Joan purchased a $1,000 face value corporate bond with an 8% annual coupon rate and a 20-year maturity. At the time of the purchase, it had an expected yield to maturity of 9.63%. If Joan sold the bond today for $942.31, what rate of return would she have earned for the past year? Round your answer to two decimal places.