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A corporate bond with a 5 percent coupon has 10 years left to maturity. It has had a credit rating of B88 and a yield

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A corporate bond with a 5 percent coupon has 10 years left to maturity. It has had a credit rating of B88 and a yield to maturity of 8.0 percent. The firm has recently gotten into some trouble and the rating agency is downgrading the bonds to BB. The new appropriate discount rate will be 9 percent. What will be the change in the bond's price in dollars? Assume interest payments are paid semi-annually and par value is $1.000 Multiple Choice 55107 55631 562.43 $43,61

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