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A straight bond has a modified duration of 8, value of 104, and yield-to-maturity is 6%. The bond pays coupons semi-annually and its yield-to-maturity is

A straight bond has a modified duration of 8, value of 104, and yield-to-maturity is 6%. The bond pays coupons semi-annually and its yield-to-maturity is as semi-annual APR, If the interest rates increase by 25 basis points, compute the modified duration-based estimate of the new price of the bond

A. 104.288

B. 101.713

C. 97.850

D. 108.150

E. 100.425

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