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Calculate the new bond price use duration to estimate the

Consider a 9.00 percent coupon bond with six years to maturity and a current price of $958.50. Suppose the yield on the bond suddenly increases by 2 percent. 1. Use duration to estimate the new price of the bond. (Round your answer to 2 decimal places. Omit the "$" sign in your response.) Price $ 2. Calculate the new bond price. (Round your answer to 2 decimal places. Omit the "$" sign in your response.) Price $

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Financial Management: Calculate the new bond price use duration to estimate the

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Financial Management: Calculate the new bond price use duration to estimate the

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