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A $1,000 par value bond has a Macaulay's duration of 8.85 years. The bond's current yieid to maturity is 8.44%. If the bond's duration? Assume

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A \$1,000 par value bond has a Macaulay's duration of 8.85 years. The bond's current yieid to maturity is 8.44%. If the bond's duration? Assume annual compounding. Submit your final answer as a percentage rounded to two decimal places (Ex. 0.00% reld to maturity is 8.44%. If the bond's yield to maturity decreases by 0.28%, what is the epproximate change in the bond's price based on unded to two decimal places (Ex, 0.00% )

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