Derivation Inc. has a bond with the following characteristics: Par: $1,000 Time to maturity:...
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Accounting
Derivation Inc. has a bond with the following characteristics:
- Par: $1,000
- Time to maturity: 50 years
- Coupon Rate: 5%, semi-annual payments
- Original YTM: 3%
- New YTM: 4%
Calculate the percentage change in the price of the bond. (Enter a negative value; enter percentages as decimals and round to 4 decimals)
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