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Assume the term structure of interest rates is flat at 10%. Bond B is a perpetuity with annuities of $10 per year with first payment

Assume the term structure of interest rates is flat at 10%. Bond B is a perpetuity with annuities of $10 per year with first payment in one year's time. Determine the price of Bond B and its Macaulay duration. Approximate the relative change in bond price if term structure shifts up in parallel manner by 100 basis points (i.e. 1%).

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