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7. GM has a bond on the market with 8% YTM and price quoted 89.28 . The duration of the bond is 6.78 years. Based

7. GM has a bond on the market with 8% YTM and price quoted 89.28. The duration of the bond is 6.78 years. Based on the information, use the estimation formula to predict what will happen to the bond price if the bonds YTM increase to 8.1%?

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