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A bond with maturity of 20 years has a coupon rate of 6% (paid annually) and a yield to maturity of 9%. Its modify duration

A bond with maturity of 20 years has a coupon rate of 6% (paid annually) and a yield to maturity of 9%. Its modify duration is 9.40 years. What will be the percentage change of bond price if the bonds yield to maturity decreases to 8%? A. 19.12% B. -14.14% C. 9.4% D. -12.1%

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