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One year ago, Gangnam Inc. issued a 12-year, 6% semiannual coupon bond at its par value of $1,000. it now sells for $793.23. The bond

  1. One year ago, Gangnam Inc. issued a 12-year, 6% semiannual coupon bond at its par value of $1,000. it now sells for $793.23. The bond has a yield to maturity of 9%. What is the expected capital gains yield for the coming year?

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