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Say we have a bond with the following characteristics: Face Value = $1000 Coupon rate = 5% Maturity = 14 years Interest rate = 11%

Say we have a bond with the following characteristics: Face Value = $1000 Coupon rate = 5% Maturity = 14 years Interest rate = 11% If interest rates were to decline to 3% today, what would be the magnitude of the price risk effect? Group of answer choices $102.41 $360.58 $903.69

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