IPhone 4 battery percentage?

Okay, I'm not sure if this is a dumb question or not. So I got an iPhone 4 yesterday, and I thought that there was supposed to be a percentage of how much battery life you have left next to the battery bar thing. All I see is a clock. Is it just that I have to get a newer iPhone to have this feature or what?

1). Go to Setting
2). Go to General
3)Go to Elapsed Time
4) Open Battery Percentage.