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A five-year bond paying 8 percent semi-annual-pay coupon is trading on the market at a yield of 6.75 percent. What is the percentage change in

A five-year bond paying 8 percent semi-annual-pay coupon is trading on the market at a yield of 6.75 percent. What is the percentage change in price if the market yield increases by 0.75 percent?

3.11%

2.98%

3.02%

3.05%

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