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A 30-year maturity bond making annual coupon payments with a coupon rate of 16.3% has duration of 10.54 years and convexity of 161.2. The bond
A 30-year maturity bond making annual coupon payments with a coupon rate of 16.3% has duration of 10.54 years and convexity of 161.2. The bond currently sells at a yield to maturity of 9%. Required: What price would be predicted by the duration rule, if it's yield to maturity rises to 10%? (Do not round intermediate calculations. Round your answer to 2 decimal places.) Predicted price
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