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An annual payment bond has a 9 percent required return. Interest rates are projected to fall 50 basis points. The bond's duration is 12 years.

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An annual payment bond has a 9 percent required return. Interest rates are projected to fall 50 basis points. The bond's duration is 12 years. Use duration the predicted price change is Multiple Choice 275 percent 475 percent -4.75 percent 55 percent

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