Two years ago, the price of a bond was 1,056.58 dollars, and one year ago, the price of the bond was 1,099.16 dollars. Over the past year, the bond paid a total of 85.96 dollars in coupon payments, which were just paid.
If the bond is currently priced at 1,088.48 dollars then what was the rate of return for the bond over the past year (from 1 year ago to today)? The par value of the bond is 1,000 dollars.