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Raptor Capital is a fixed-income hedge fund. The firm decides to buy a 7-year bond that has a yield of 8% and a duration of

Raptor Capital is a fixed-income hedge fund. The firm decides to buy a 7-year bond that has a yield of 8% and a duration of 5.194 years. If the market yield increases by 0.5%, what is the percentage change in the bonds price?

Group of answer choices

-2.40%

-3.60%

-3.27%

3.60%

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