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A bond has a par value of $1000, a coupon rate of 7.01 % paid annually and matured in 12 years. Assume the market interest

A bond has a par value of $1000, a coupon rate of 7.01 % paid annually and matured in 12 years. Assume the market interest rate on this bond is 8.68% and decreases 36 basic points. Calculate the percentage change in the value of the bond. (Calculate the duration of the bond first) and round the answer to two or more decimal places in percentage form.

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