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XYZ Company has issued bonds that pay semiannually with the following characteristics Bond Price Maturity Duration Yield to Maturity 8% $1,150 12 years 10 years

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XYZ Company has issued bonds that pay semiannually with the following characteristics Bond Price Maturity Duration Yield to Maturity 8% $1,150 12 years 10 years If the yield to maturity decreases by 30 basis points, the expected percentage change in the price of the bond using duration would be

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