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Jack purchased a 15-year zero coupon Bulldog bond with the par of 1 Million. The bond YTM is 6%. At the purchasing date, he converted

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Jack purchased a 15-year zero coupon Bulldog bond with the par of 1 Million. The bond YTM is 6%. At the purchasing date, he converted the USD to at the spot rate of $1.4815= Pound 1. At maturity, the then exchange rate is $1.4955= Pound 1. Calculate his annual return for this investment. Enter percent round to 2 decimal places

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