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A 12-year bond has an 8.0% coupon rate and face value of $1000. What is the percentage change in the price of this bond

A 12-year bond has an 8.0% coupon rate and face value of $1000. What is the percentage change in the price of this bond if the discount rate falls to 6% from the current level of 9% ? Assume the bond makes semi-annual coupon payments. a. approximately 36% increase b. approximately 26% decrease c. approximately 26% increase d. approximately 4% decrease e. approximately 4% increase

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