Evaluate the following substitution swap: You currently hold a $25-$year, $9\mathrm{.}0$ percent coupon bond

priced to yield $10\mathrm{.}5$ percent. As a swap candidate, you are considering a $25-$year, Aa$-$rated, $9\mathrm{.}0$ percent

coupon bond priced to yield $10\mathrm{.}75$ percent. $($Assume a one$-$year work$-$out period and reinvestment

at $10\mathrm{.}5$ percent.$)$

$----------------$ Current Bond $--------------$Candidate Bond

Dollar Investment

Coupon

I on one coupon

Principal value at end

Total Accrued

Realized compound yield

Value of swap in basis points$=$