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A semiannual coupon bond has a 5.25 percent yield to maturity and a price of $1,250. Interest rates are now projected to increase 75 basis

A semiannual coupon bond has a 5.25 percent yield to maturity and a price of $1,250. Interest rates are now projected to increase 75 basis points. The bond's duration is 10 years. After the interest rate change, the new bond price is predicted to be ($Answer.)

(Round final your answer to 2 decimal places.)

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