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A coupon bond has a duration of 7.75 years. If the required yield on the bond increases from 12% to 20%, the estimated change in

A coupon bond has a duration of 7.75 years. If the required yield on the bond increases from 12% to 20%, the estimated change in the price of the bond will be closest to:

A. -55.4%

B. 55.4%

C. -51.7%

D. 51.7%

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