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A bond with a price of 102 has a Macaulay duration of 2.5 years. Using the Macaulay duration approximation, what is the new approximate price

A bond with a price of 102 has a Macaulay duration of 2.5 years. Using the Macaulay duration approximation, what is the new approximate price of the bond if the required rate of return moves from 11% to 13%?

94.9 96.9 97.5 104.5 107.1

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