Find the modified duration

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Reference no: EM131138732

Consider a 30-year corporate bond paying 9 percent semi-annual coupon. The current yield to maturity is 11 percent. (Please show your work)

(a) Find the modified duration.

(b) Refer to part a. If the interest changes by 25 basis points, what is the exact change in price?

Reference no: EM131138732

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