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A ten-year bond has an 8.0% coupon rate and face value of $1000. What is the percentage change in the price of this bond if

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A ten-year bond has an 8.0% coupon rate and face value of $1000. What is the percentage change in the price of this bond if the discount rate falls to 6% from the current level of 10%? Assume the bond makes semi-annual coupon payments. Approximately 4% increase Approximately 24% increase Approximately 24% decrease Approximately 31% increase Approximately 31% decrease

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