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Find the duration of a 3-year bond with annual coupon payments of $80 and a par value of $1,000. The current market price of the

Find the duration of a 3-year bond with annual coupon payments of $80 and a par value of $1,000. The current market price of the bond is $950.25. If the YTM of the bond dropped by 1%, what would happen to the bond price?

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