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Business, 13.05.2021 23:50 jeanbeansmith2p2ofty

A 30-year maturity bond making annual coupon payments with a coupon rate of 15.0% has duration of 9.41 years and convexity of 129.3. The bond currently sells at a yield to maturity of 11%. a. Find the price of the bond if its yield to maturity falls to 10%. (Do not round intermediate calculations. Round your answer to 2 decimal places.)

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