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Consider a five-year bond with a 10% coupon, paid every six-months and with yield-to-maturity 8% per annum semi-annual compounding. If the bonds yield-to-maturity remains constant,

Consider a five-year bond with a 10% coupon, paid every six-months and with yield-to-maturity 8% per annum semi-annual compounding. If the bonds yield-to-maturity remains constant, then in one year, will the bond price be higher, lower, or unchanged? Please justify your answer.

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