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Suppose that you are long $37 million of a 16% coupon bond maturing after 3 years which is trading at 100. If the bond's

Suppose that you are long $37 million of a 16% coupon bond maturing after 3 years which is trading at 100. If the bond's modified duration is 2.83, approximately what would be the loss on your position if yields were to rise by 10 basis points?

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