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A callable bond has a first call price of 102.5 and an MD of 7.38. It trades at 101.37 to yield 7.8%. Using MD to
A callable bond has a first call price of 102.5 and an MD of 7.38. It trades at 101.37 to yield 7.8%. Using MD to estimate the price changes, what is the bond's effective duration? answer to the nearest hundredth.
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