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A bond has a par value of $1,000, a coupon rate of 9.84 percent (paid annually), and that matures in 10 years. Assume the market

A bond has a par value of $1,000, a coupon rate of 9.84 percent (paid annually), and that matures in 10 years. Assume the market interest rate on this bond is 9.54 percent and it increases 20 basic points. Calculate the percentage change in the value of the bond. (You should calculate duration of the bond first).

Round the answer to two or more decimal places in percentage form.

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