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2. There is an annual coupon 10% bond with 4 years to maturity. Assume that the current yield to maturity of the bond is 12

2. There is an annual coupon 10% bond with 4 years to maturity. Assume that the current yield to maturity of the bond is 12 %, based on the Duration of the bond what is the expected change in the bond price if there is a 0.1% decrease in the yield to maturity? Please solve with the duration equation, do NOT USE EXCEL and show calculations.

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