Question: Report the numerical result from (c) rounded to the nearest dollar. Do not include a $ sign. Do not include a + or sign. Bond

Report the numerical result from (c) rounded to the nearest dollar. Do not include a $ sign. Do not include a + or sign. Bond X is a 10-year bond with a 9 percent coupon paid annually. The duration of Bond X is 6.995 . The current interest rate on comparable debt is 9%. (a) Find the actual price of Bond X if the interest rate is higher at 11%. (Do not report.) (b) Using duration, find the change in price if the interest rate rises to 11%. (Do not report). (c) Report the forecasted price for the 11% interest rate. Click Save and Submit to save and submit. Click Save All Answers to save all answers

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