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The price of a bond is equal to $101.76 if the term structure of interest rates is flat at 5%. The following bond prices are given for up and down shifts of the term structure of interest rates. Using the following information what is the effective duration of the bond?
Bond price: $98.46 if term structure of interest rates is flat at 6% A. 1.56. B. 1.74. C. 3.49. |