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An annual-coupon corporate bond yields 6% annually at its current price of 965.36. The bond's Macaulay duration is Dmac- Use the first-order modified approximation to

An annual-coupon corporate bond yields 6% annually at its current price of 965.36. The bond's Macaulay duration is Dmac- Use the first-order modified approximation to estimate what the bond's price will be if its yield increases by 1%

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