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You bought a 30-year bond with a coupon rate of 8.50%, when the market rate was 7.00%. However, right after you bought the bond, market

You bought a 30-year bond with a coupon rate of 8.50%, when the market rate was 7.00%. However, right after you bought the bond, market rate dropped to 5.50%. If you sell the bond at the current market rate of 5.50%, you will

gain $241.20 gain $248.74 lose $266.33 lose $258.79 gain $251.25

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