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5) An investor buys a three-year bond with a 10% coupon rate with semiannual coupon payments. The bond is purchased at a price of $110.834383

5) An investor buys a three-year bond with a 10% coupon rate with semiannual coupon payments. The bond is purchased at a price of $110.834383 per $100 par value. Assuming a 5 bps increase/decrease in the semiannual yield-to-maturity, estimate the bond's modified duration

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