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11. Consider a 30-year corporate bond paying 8 percent semi-annual coupon. The current yield to maturity is 10 percent. Find the approximate bond's modified duration

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11. Consider a 30-year corporate bond paying 8 percent semi-annual coupon. The current yield to maturity is 10 percent. Find the approximate bond's modified duration by using changes in the interest rate up and down by 5 basis points. Make sure to show your work. (10 points)

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