What will be the approximate capital gain of this bond

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A bond has a par value of $1,000, a time to maturity of 15 years, and a coupon rate of 7.60% with interest paid annually. If the current market price is $760, 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.)

Reference no: EM13767826

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