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A 1 0 percent annual coupon, 2 0 - year bond has a yield - to - maturity of 8 percent. Assume a par value

A 10 percent annual coupon, 20-year bond has a yield-to-maturity of 8 percent. Assume a par value of $1,000. If its effective duration is 8.41 years, a 25 basis point increase in rates will result in a:
2.10% decrease in price.
1.30% increase in price.
7.41% decrease in price.
1.85% decrease in price.
12.85% increase in price.

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