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A bond has a par value of $1,000, a time to maturity of 9 years, and a coupon rate of 9.3% with interest paid annually. The current market price is $865.

Required:

What will be the approximate capital gain yield of this bond over the next year if its yield to maturity remains unchanged? (Round your answer to 2 decimal places.Omit the "tiny_mce_markerquot; sign in your response.)

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