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A $1,000 face value bond due in seven years is currently priced at par and has a 4% coupon, paid annually. However, the retail company

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A $1,000 face value bond due in seven years is currently priced at par and has a 4% coupon, paid annually. However, the retail company that issued the bond announces it is closing its flagship store, causing the yield-to-maturity on the bond to rise to 5%. What is the percentage decline in the price of the bond due to this news? -1.0% -1.9% -70% - 1.2% -5.8%

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