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An annual payment bond has a 10 percent required rate of retum. Interest rates are expected to decrease 74 basis points. If the bond's duration

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An annual payment bond has a 10 percent required rate of retum. Interest rates are expected to decrease 74 basis points. If the bond's duration is years, what is the percentage change in bond's price? (write your answer in and round it to 3 decimal places)

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