Question 12 8 pts You have been hired to value a new 40-year callable, convertible bond. The bond has a 9% coupon rate, payable annually. The conversion price is $50, and the stock currently sells for $40. The stock price is expected to grow at 4.9748678 percent per year. The bond is callable at $1,150; but based on prior experience, it will not be called until the conversion value reaches $1,300 at least. The required return on this bond is 10%. What would be the expected rate of return to the investor? (Please, do not round intermediate calculations. Provide your final answer as a percent rounded to 2 decimal places with no percentage symbol (%))