Question: Please answer it in 1 hour Write explanation if it needed Ill give you upvote immediately Dont use excel to solve this question (a) An

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(a) An annual-coupon corporate bond has an annual effective yield of 2.2% at its current price of 48.54. At 2.2%, the bond's Macaulay duration is 7.1245. Using the first-order modified approximation method, estimate the price when there is a decrease in yield rate of 25 basis points. Leave your answer in 4 decimal places

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