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A bond has a par value of $1,000, a coupon rate of 5.21 percent (paid annually), and that matures in 8 years. Assume the market

A bond has a par value of $1,000, a coupon rate of 5.21 percent (paid annually), and that matures in 8 years. Assume the market interest rate on this bond is 9.36 percent and it increases 36 basic points. Calculate the percentage change in the value of the bond.

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