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A bond has a Macaulay duration of 9.5 years, yield to maturity of 7.7 percent, and convexity of 93.27. The bond is currently priced at

A bond has a Macaulay duration of 9.5 years, yield to maturity of 7.7 percent, and convexity of 93.27. The bond is currently priced at $993.00. If the bonds yield to maturity decreases by 1.00 percent, the expected price of the bond will be closest to:

Group of answer choices

$910

$1,076

$1,099

$1,085

$901

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