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Howard Corporation issued a bond that pays $200 annual coupon. The par value of the bond is $1000 with 3 yrs left to maturity. The

Howard Corporation issued a bond that pays $200 annual coupon. The par value of the bond is $1000 with 3 yrs left to maturity. The going rate is 21% for these types of securities. There is a sudden decline in market rate and required changes to 20%. What will be the percent change in the value of this bond?

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