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A ten-year annual pay bond with a 5% coupon rate is trading with a market yield of 7.75%. What is the percentage change in price

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A ten-year annual pay bond with a 5% coupon rate is trading with a market yield of 7.75%. What is the percentage change in price if the market yield decreases by 75 basis points immediately after the bond is issued? 5.61% 5.77% 5.37% O 5.67%

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