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A bond with a $1,000 par, 4 years to maturity, a coupon rate of 5%, and annual payments has a yield to maturity of 4.4%.

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A bond with a $1,000 par, 4 years to maturity, a coupon rate of 5%, and annual payments has a yield to maturity of 4.4%. What will be the percentage change in the bond price if the yield changes instantaneously to 5.3% ? (If your answer is, e.g., 1.123%, enter it as -1.123 . If the sign of the price change is incorrect, no credit will be given.)

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