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16 A bond has 5-year maturity, 7% coupon rate with annual coupon payment, and $1000 par value. Its yield to maturity is 10%. Its modified

16 A bond has 5-year maturity, 7% coupon rate with annual coupon payment, and $1000 par value. Its yield to maturity is 10%. Its modified duration is about Your choice: 16/25 Qs 3.95 years 4.22 years 4.34 years 3.84 years

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