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Steps preffered in excel please Return to question 7 You bought one of Mastadon Manufacturing Co.'s 7.8 percent coupon bonds one year ago for $1,061.

image text in transcribedSteps preffered in excel please

Return to question 7 You bought one of Mastadon Manufacturing Co.'s 7.8 percent coupon bonds one year ago for $1,061. These bonds make annual payments, mature twelve years from now, and have a par value of $1,000. Suppose you decide to sell your bonds today, when the required return on the bonds is 4.5 percent. If the inflation rate was 4.4 percent over the past year, what would be your total real return on the investment? (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) points Total real return

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