A firm specializes in buying deep discount bonds (i.e. bonds trading at well below par). The firm is eyeing a bond that pays 8% annual interest and has 17 years remaining to maturity. The bond is...

A firm specializes in buying deep discount bonds (i.e. bonds trading at well below par). The firm is eyeing a bond that pays 8% annual interest and has 17 years remaining to maturity. The bond is currently selling at 35% below par.

Required: By what percent will the price of the bonds increase between now and maturity based on semi-annual analysis?

Answer
% Intermediate calculations must be rounded to 3 decimal places (at least). Input your answer as a percent rounded to 2 decimal places (for example: 28.31%).