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A bond has a Macaulay's duration of 16.7 years. Current interest rates are 9.5%. If rates fall by 0.53%, according to duration what will be

A bond has a Macaulay's duration of 16.7 years. Current interest rates are 9.5%. If rates fall by 0.53%, according to duration what will be the approximate percentage change in the bond's price? Assume annual compounding. Submit your final answer as a percentage rounded to two decimal places (Ex. 0.00%).

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