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A corporate bond has a duration 0f 15.5 and is currently priced at $1,050, if interest rates in the market increase by 0.5%, what is

A corporate bond has a duration 0f 15.5 and is currently priced at $1,050, if interest rates in the market increase by 0.5%, what is the new price of the bond?

$887.25

$968.625

$1,065.5

$1,131.375

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