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George Seby is thinking about doing some speculating in interest rates. He thinks rates will...

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Accounting

George Seby is thinking about doing some speculating in interest rates. He thinks rates will fall and, in response, the price of Treasury bond futures should move from 87-7.3, their present quote, to a level of about 90. Given a required margin deposit of $1,170 per contract, what would George's return on invested capital be if prices behave as he expects?

If prices behave as he expects, George's return on invested capital will be _____%.(Round to two decimal places.)

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