A bond has a current price of $1,030.The yield on the bond is 8.00%.If the yield changes from 8.00% to 8.10%,the price of the bond will go down to $1,025.88.The modified duration of this bond is _________.
A) 4.32
B) 4.00
C) 3.25
D) 3.75
Correct Answer:
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