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12. You own a bond portfolio worth $169,000. You estimate that your portfolio has an average YTM of 7.9% and a Modified Duration of 27.1

12. You own a bond portfolio worth $169,000. You estimate that your portfolio has an average YTM of 7.9% and a Modified Duration of 27.1 years. If your portfolio's average YTM were to increase by 16 basis points overnight, what would be the approximate new value of your portfolio? Round to the nearest dollar.

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