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Calculate the new bond price using the usual bond pricing formula. (Do not round intermediate calculations. Rounds your answer to 2 decimal places.) Consider a

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Calculate the new bond price using the usual bond pricing formula. (Do not round intermediate calculations. Rounds your answer to 2 decimal places.)

Consider a bond with a coupon of 4.8 percent, six years to maturity, and a current price of $1,048.40. Suppose the yield on the bond suddenly increases by 2 percent

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