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Bond Dave has a 8 percent coupon rate, makes semiannual payments, a 3 percent YTM , and 2 2 years to maturity. If interest rates

Bond Dave has a

8

percent coupon rate, makes semiannual payments, a

3

percent YTM

,

and

22

years to maturity. If interest rates suddenly rise by

3

percent, what is the percentage change in the price of Bond Dave? Enter the answer with

4

decimals

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