Below is a list of prices for zero-coupon bonds of various maturities.
Maturity (Years) Price of $1000 Par Bond (Zero-Coupon)
1 $943.40
2 $873.52
3 $816.37
If at the end of the ?rst year the yield curve ?attens out at 8%, what will be the 1-year holding-period return on the coupon bond?