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A bond has a par value of $1,000, a time to maturity of 15 years, and...

A bond has a par value of $1,000, a time to maturity of 15 years, and a coupon rate of 8.90% with interest paid annually. If the current market price is $890, 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.)

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(893.36-890)/890 DI 1 Face value (FV) 2 Coupon rate 3 Number of compounding periods per year 1,000 8.90% 2 4 12/3 Interest pe

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