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You own $104 of market value of Gemco bonds. These bonds have a modified duration of 2.5 years. Overnight, interest rates decline by 0.75% (75

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You own $104 of market value of Gemco bonds. These bonds have a modified duration of 2.5 years. Overnight, interest rates decline by 0.75% (75 basis points). What is your best estimate for the new value of this bond after that rate shock? 106.11 103.22 105.95 10

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