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The coupon rate of a bond is 6.2%. It matures in 8 years. The required return rate of the bond is 7.1%. The risk-free interest

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The coupon rate of a bond is 6.2%. It matures in 8 years. The required return rate of the bond is 7.1%. The risk-free interest rate increases by -1.05 percentage points. Consequently, the required return rate of the bond changes by the same amount. Please find the change in the bond's price. [Hints/Example)

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