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1) A corporate bond has 3 years left to maturity. It pays a 4% coupon and has a yield of 5%. Assume coupons are paid

1) A corporate bond has 3 years left to maturity. It pays a 4% coupon and has a yield of 5%. Assume coupons are paid annually and the bond has a face value of $1000. Find the duration of the bond. SHOW YOUR WORK

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