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An eight-year bond has a yield of 12% and a duration of 7.198 years. If the bond's yield increases by 50 basis points, what is

An eight-year bond has a yield of 12% and a duration of 7.198 years. If the bond's yield increases by 50 basis points, what is the percentage change in the bond's price as predicted by the duration formula?

What is the bond's price?

What is the percentage change?

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