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Donald McKay, CFA, is analyzing a client’s fixed income portfolio. As of the end of the last quarter, the portfolio had a market value of $7,545,000 and a portfolio duration of 6.24. McKay is predicting that the yield for all of the securities in the portfolio will decline by 25 basis points next quarter. If McKay’s prediction is accurate, the market value of the portfolio: A. will increase by approximately 6.24%. B. at the end of the next quarter will be approximately $7,427,300. C. will increase by approximately $117,700. |