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A bond is trading at a price of 1 0 0 with a yield of 8 % . If the yield increases by 1 basis

A bond is trading at a price of 100 with a yield of 8%. If the yield increases by 1 basis point, the price of the bond will decrease to 99.95. If the yield decreases by 1 basis point, the price of the bond will increase to 100.04. What is the modified duration of the bond?

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