In late $2019,$ the S&P $500$ was at $3100.$ The forecast for $12-$month forward earnings per share for the S&P $500$ portfolio was about $$150.$ The $10-$year Treasury bond yield forecast for next year would be $2\%.$ We posit that the spread between the carnings yield and the Treasury yield would be $2\mathrm{.}75\%$ for the next $12-$month period. What would be the capital gain?