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Swanson, Inc. bonds have a 13% coupon rate with semi-annual coupon payments. They have 18 years to maturity and a par value of $1,000. Your

Swanson, Inc. bonds have a 13% coupon rate with semi-annual coupon payments. They have 18 years to maturity and a par value of $1,000. Your required rate of return is 11%. Suppose you decide to buy the bond, and immediately afterwards interest rates increase by 0.5%. How much value has the bond gained or lost?

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