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Required: bond has a par value of $1,000, a time to maturity of 20 years, and a coupon rate of 7.10% with interest paid annually.

image text in transcribed Required: bond has a par value of $1,000, a time to maturity of 20 years, and a coupon rate of 7.10% with interest paid annually. If the current narket price is $710, what will be the approximate capital gain of this bond over the next year if its yield to maturity remains inchanged? (Do not round intermediate calculations. Round your answer to 2 decimal places.)

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