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An investor buys a 4-year bond with a 4.0% coupon rate paid annually. The bond, is priced at a yield-to-maturity of 4.1%. Assuming a 5

An investor buys a 4-year bond with a 4.0% coupon rate paid annually. The bond, is priced at a yield-to-maturity of 4.1%. Assuming a 5 bp change in the YTM, what is the bonds approximate modified duration?

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