What will be approximate capital gain of bond

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Reference no: EM131621937

A 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 market price is $710, what will be the approximate capital gain of this bond over the next year if its yield to maturity remains unchanged? (Do not round intermediate calculations. Round your answer to 2 decimal places.)

Capital gain $

Reference no: EM131621937

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