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A bond with a 7-year duration is worth $1,085, and its yield to maturity is 8.5%. If the yield to maturity falls to 8.29%, you

A bond with a 7-year duration is worth $1,085, and its yield to maturity is 8.5%. If the yield to maturity falls to 8.29%, you would predict that the new value of the bond will be approximately _________.

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