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A 2 0 - year, $ 1 , 0 0 0 par value bond has a 7 . 7 5 % coupon rate with interest

A 20-year, $1,000 par value bond has a 7.75% coupon rate with interest paid semiannually. The bond currently sells for $900.00. What is the Capital Gains Yield on these bonds expressed as a percentage calculated to two decimal places if you purchase them at the current market price and assume that market interest rates will stay at the same level? Enter your answer rounded to two decimal places. Do not enter % in the answer box. For example, if your answer is 0.12345 or 12.345% then enter as 12.35 in the answer box.

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