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ABC Inc. just issued 12-year, 9% coupon bonds at par. Assume market interest rates rise by seven percentage points. By what percentage will the price
ABC Inc. just issued 12-year, 9% coupon bonds at par. Assume market interest rates rise by seven percentage points. By what percentage will the price of ABC's bond change?
A) -38.83%
B) -36.38%
C) -23.79%
D) -21.83%
E) -19.72%
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