Steel Pier Company has issued bonds that pay semiannually with the following character: Coupon: 10%Yield to Maturity: 10%Maturity: 10 yearsMacaulay Duration: 6.76 yearsIf the yield to maturity decreases to 8.045%, the expected percentage change in the price of the bond using modified duration would be. A) 12%
B) 11%
C) 10%
D) 13%
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Steel Pier Company has issued bonds that pay semiannually with the following character: Coupon: 10%Y...
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