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Please show work as to how you got your answers. For calculator solutions, please give calculator inputs. You have the following details about the First

Please show work as to how you got your answers. For calculator solutions, please give calculator inputs.

You have the following details about the First Banc Corp. bond: Maturity = 9 years, Coupon rate (annual) = 5.25%, Yield to maturity = 4.2%, Par value = $1,000. Calculate the value of the bond, its duration and modified duration. What will be the change in value if interest rates go up by 1.0%?

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