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An investor purchases a bond at a price of 112.41 per hundred of par. If the required yield decreases or increases by 100 basis points,

An investor purchases a bond at a price of 112.41 per hundred of par. If the required yield decreases or increases by 100 basis points, the price of the bond increases to 127.53 and decreases to 100 respectively. Using this information, solve for the approximate modified duration of the bond. Round two decimal places in your answer.

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