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Bond XYZ has a face value of 1000 and is priced at par. It pays annual coupons and has a coupon rate of 5%. Suppose

Bond XYZ has a face value of 1000 and is priced at par. It pays annual coupons and has a coupon rate of 5%. Suppose it has a Macaulay duration of 6. Then, if market yields _______ the bond's price will _______ according to the duration-based estimation. A. increase by 0.5%; decrease by $28.57. B. increase by 0.5%; increase by $30. C. decrease by 0.5%; decrease by $28.57. D. decrease by 0.5%; increase by $30

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