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3 A bond currently has a price of $1,050. The yield on the bond is 7%. If the yield increases 23 basis points, the price

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3 A bond currently has a price of $1,050. The yield on the bond is 7%. If the yield increases 23 basis points, the price of the bond will go down to $1,037. The duration of this bond is years. O 5.03 O 5.78 O 5.84 O 5.39

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