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18. What number is closest to the duration of a 12% annual coupon bond maturing in 5 years and yielding 11%? Assume a $1,000 face
18. What number is closest to the duration of a 12% annual coupon bond maturing in 5 years and yielding 11%? Assume a $1,000 face value. a. 2.5 years b. 3.0 years C. 3.5 years d. 4.0 years e. 4.5 years
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