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16. A 10-year 1,000 par value bond with 6% annual coupons is priced to yield 5.5%. Find the Macaulay duration of this bond. A) 7.847

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16. A 10-year 1,000 par value bond with 6% annual coupons is priced to yield 5.5%. Find the Macaulay duration of this bond. A) 7.847 B) 7.898 C) 7.937 D) 7.962 E) 7.995

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