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8. A bond has a modified duration of 8.5 years and is currently priced at 92 with a yield of 6% compounded continuously. Estimate the

8. A bond has a modified duration of 8.5 years and is currently priced at 92 with a yield of 6% compounded continuously. Estimate the new value of the bond if this yield rises by 50 basis points (1 basis point = 0.0001).

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