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A 30-year U.S. bond paying 6 percent coupon with a yield of 9 percent has a duration of 11.4448 years. If the interest rate falls

A 30-year U.S. bond paying 6 percent coupon with a yield of 9 percent has a duration of 11.4448 years. If the interest rate falls by 20 basis points, what is the approximate percentage change in the bond price?

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