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11. (5 points) An annual-coupon corporate bond is priced to yield 6.7% annually at a price of 10,300. Its' Macaulay Duration is 8.544. Using the
11. (5 points) An annual-coupon corporate bond is priced to yield 6.7% annually at a price of 10,300. Its' Macaulay Duration is 8.544. Using the 1-st order approximation method (only involves modified duration), estimate the change in price if interest rate decrease by 0.10%? A. 82.01 B. 82.48 C. 82.85 D. 83.18 E. 83.58
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