Question: 5. A bond with a 7.3% yield has a duration of 5.4 and is trading at $985.00. If the yield decreases to 7.1%, the new

5. A bond with a 7.3% yield has a duration of 5.4 and is trading at $985.00. If the yield decreases to 7.1%, the new bond price is closest to: A. $974.40. B. $995.60. C. $1,038.30. D. $1,094.40

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