b) A bond paying a coupon rate of interest of 8 per cent on an annual basis had five years to run to maturity at the start of this year. At that time it was trading at 108.4247 and its yield to maturity was 6 per cent. During the course of this year interest rates have increased and the required rate of return on the bond is now 7 per cent. Determine the holding period return on the bond for the year that is now ending, assuming that the yield on the bond is expected to remain at 7 per cent until its maturity