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A corporate bond with annual coupons has a duration of 4.6 years and a yield to maturity of 6%. Part 1 Attempt 5/5 for 6

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A corporate bond with annual coupons has a duration of 4.6 years and a yield to maturity of 6%. Part 1 Attempt 5/5 for 6 pts. Using the duration approximation, what would be the percentage change in the bond's price (P/P) if yields increase by 40 basis points? Enter your answer as a decimal number, not a percentage

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