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Compute the modified duration of a 9% coupon, 4-year corporate bond with a yield to maturity of 10%. Using the modified duration, If the market

Compute the modified duration of a 9% coupon, 4-year corporate bond with a yield to maturity of 10%. Using the modified duration, If the market yield drops by 15 basis points, there will be a .48% decrease in the bond's price.

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