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A semi-annual coupon bond has a coupon of 6% and its duration is 5.78 years. It trades at a yield of 7%, or a price

A semi-annual coupon bond has a coupon of 6% and its duration is 5.78 years. It trades at a yield of 7%, or a price of $94.54 per $100 face. The comparable Treasury rate is 5%. If the yield curve shifts up across the board by 50 bp and the spread increases to 280 bp, what is the new price of the bond?

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