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Citrus County's assets have an average duration of 2 5 and a market value of $ 1 million. The market interest rate is 3 %

Citrus County's assets have an average duration of 25 and a market value of $1 million. The market interest rate is 3%. Use the duration formula to estimate the market value if the interest rate changes to 2.5%.
1,064,932
1,121,360
1,087,596
1,032,497
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