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A bond has 30 years until maturity, an 8% annual coupon, and YTM of 8%. The modified duration is 22.28 years and convexity is 205.07.

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A bond has 30 years until maturity, an 8% annual coupon, and YTM of 8%. The modified duration is 22.28 years and convexity is 205.07. Yields are expected to increase to 13%. What is the estimated percentage price change using the duration with convexity rule? Please give your answer in percent terms rounded to two decimal places

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