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A 1 5 - year, 6 percent coupon bond pays interest annually. The bond has a face value of $ 1 , 0 0 0

A 15-year, 6 percent coupon bond pays interest annually. The bond has a face value of $1,000. What is the change in the price of this bond if the market yield to maturity rises to 6.5 percent from the current rate of 6.25 percent?
Group of answer choices
$23.12 decrease
$23.72 decrease
$23.12 increase
$24.40decrease
$23.72 increase

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