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A $1000 par semiannual-pay bond has a current price of $931 has a modified duration of 4.71. Suppose the yield on the bond suddenly increases

A $1000 par semiannual-pay bond has a current price of $931 has a modified duration of 4.71. Suppose the yield on the bond suddenly increases by 0.67 percent. Use duration to estimate the new price of the bond.

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