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Approximating the Change in Present Value 12. An asset sells for 100,000 at 8% effective. The duration of the asset is 864 . Determine the

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Approximating the Change in Present Value 12. An asset sells for 100,000 at 8% effective. The duration of the asset is 864 . Determine the price of the asset if the interest rate increases to 8.1% using the first order modified approximation. (A) 99,100 (B) 99,200 (C) 99,300 (D) 100,800 (E) 100,900

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