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18. Roll Tide Corp's 11 year bonds have 7.5 years left to maturity and offer a coupon rate of 8.0%. The yield to maturity on

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18. Roll Tide Corp's 11 year bonds have 7.5 years left to maturity and offer a coupon rate of 8.0%. The yield to maturity on RollTide's bonds is 9.15%. What is the duration for the bond? (5 points). What is the economic meaning of duration? (3 points)

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