Question: Consider a bond issue with a total par value of $1,000. The bond has exactly 25 years remaining until maturity and offers a coupon rate

Consider a bond issue with a total par value of $1,000. The bond has exactly 25 years remaining until maturity and offers a coupon rate is 8.8% with interest paid semiannually. The bond issue is currently trading at a price to yield 8.2%. If changes in market interest rates cause the bond's yield to maturity to change to 6.9%, what will be amount of the bond's change in price

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