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The yield to maturity of a bond is currently 10% but is expected to fall to 9% in the near future. Assuming a three-year duration,

The yield to maturity of a bond is currently 10% but is expected to fall to 9% in the near future. Assuming a three-year duration, calculate the estimated percentage change of the bond.

-2.73%

+2.73%

-3.70%

+11.11%

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