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Question 2 10 points Saved A 9-year bond has a yield of 9.5% with annual compounding. It is trading at 98.75 cents on the dollar,

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Question 2 10 points Saved A 9-year bond has a yield of 9.5% with annual compounding. It is trading at 98.75 cents on the dollar, and its face value is $1000. The bond's duration is 8.836 years. If the market yield goes up by 50 basis points (or 0.5096), what is the new price of the bond? (Round your answer to 2 decimals. Do not round intermediate results.) 947.66

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