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You observe a 4-year annual coupon $1,000 par bond, selling for $935.21 with a yield of 9% and a duration of 3.61 years If all

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You observe a 4-year annual coupon $1,000 par bond, selling for $935.21 with a yield of 9% and a duration of 3.61 years If all rates decline by 150 basis points (1.5%), what does duration predict will be the new bond price? Note, you are to use duration here and I want you to tell me the new price of the bond (not the predicted change in price of the bond). Answer in dollars to 2 decimal places. Do not include the dollar sign and do not include commas

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