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A bond with a 9 - year duration is worth $ 1 0 8 . 0 0 and its yield to maturity is 8 %

A bond with a 9-year duration is worth $108.00 and its yield to maturity is 8%. If the yield to maturity falls to 7.84%, you would predict that the new value of the bond will be $_____.($109.56 was not the correct answer)

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