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5. A bond is trading at a price of 100 with a yield of 8%. If the yield increases by 1 basis point, the price

5. A bond is trading at a price of 100 with a yield of 8%. If the yield increases by 1 basis point, the price of the bond will decrease to 99.95. If the yield decreases by i basis point, the price of the bond will increase to 100.04. What is the modified duration of the bond

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