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| Spice just does not seem to get it and asks Meyers to repeat the computation for the fixed rate bond in Table 1. Meyers obliges. Specifically, he assumes an increase in the level of interest rate of 100 basis points. Using the information in Table 1, which of the following is the best estimate of the change in value of the fixed rate bond? A. -$4.63. B. -$7.49. C. -$5.73. |