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Consider the duration of a bond to be 9 years, and it is selling at par for $2,764. This bond has an annual coupon rate

Consider the duration of a bond to be 9 years, and it is selling at par for $2,764. This bond has an annual coupon rate of 8%. If interest rates increase by 20 basis points, what is the approximate change in the market price using the duration approximation? (Round your answer to the nearest 3 decimal places.)

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