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A bond with face value = 5,000 currently trades at par. Its Macaulay duration is 3.42 years and its convexity is 68.47. Suppose yield currently

A bond with face value = 5,000 currently trades at par. Its Macaulay duration is 3.42 years and its convexity is 68.47. Suppose yield currently is 3.95%, and is expected to change to 5.54%. Calculate the approximate dollar change in price using both duration and convexity. Assume annual compounding. Round your answer to 2 decimal places.

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