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A bond has 2 year to maturity, 6 % coupon, 8 % yield and pays annually. The current price of the bond is $ 9

A bond has 2 year to maturity, 6% coupon, 8% yield and pays annually. The current price of the bond is $964.3347. If yield increases by 25 basis points, estimate the new bond price using the duration model.

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