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5. A bond is currently selling at $1,034.5. This bond has a yield-to-maturity (market interest rate) of 6.36% and a duration of 8. If the

5. A bond is currently selling at $1,034.5. This bond has a yield-to-maturity (market interest rate) of 6.36% and a duration of 8. If the market interest rate increases by 50 basis points, calculate the new price of the bond

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