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HMK Enterprises has an outstanding bond (3 year maturity, 4% annual coupon) which is AAA-rated, with a yield of 3.7%. Bond rating was suddenly dropped

HMK Enterprises has an outstanding bond (3 year maturity, 4% annual coupon) which is AAA-rated, with a yield of 3.7%. Bond rating was suddenly dropped to AA. Average AA-rated bond has a yield of 4.9%. What will be the % change in price? a

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