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Bond N is a 10% coupon bond with 20 years to maturity. It makes semiannual payments, and has a YTM of 14%. If the interest

Bond N is a 10% coupon bond with 20 years to maturity. It makes semiannual payments, and has a YTM of 14%. If the interest rate suddenly falls by 3%, what is the percentage price change of the bond? A) 30.33% B) 63.35% C) 25.42% D) 30.32% E) 17.64%

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