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. Consider a five year corporate bond with a 7% coupon rate paid annually and a 7% yield to maturity. What is its current price?

. Consider a five year corporate bond with a 7% coupon rate paid annually and a 7% yield to maturity. What is its current price? What is its duration? If the appropriate yield to maturity changes to 7.1%. Using the duration model, what is the percent change in price? Show all of your work for each step

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