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What is the duration of the following bond: $1,000 par value, 5% annual coupon, 4 years to maturity, and yield to maturity of 4.5%? Using

What is the duration of the following bond: $1,000 par value, 5% annual coupon, 4 years to maturity, and yield to maturity of 4.5%?

Using the information about the prior bond and duration price approximation formula, how much (in %, NOT $s) does the bond price change if the yield to maturity increases to 4.85%? Be sure to include the appropriate sign.

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