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Duration of a 7-year 9% bond issue was calculated to be 5.69 years. If the yield-to-maturity (YTM) is 4%, what percentage change would occur in

Duration of a 7-year 9% bond issue was calculated to be 5.69 years. If the yield-to-maturity (YTM) is 4%, what percentage change would occur in the price of the bond if a 1% change occurred in the YTM?

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