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2. A $100 par value bond with 7% annual coupons and maturing at par in 4 years sells at a price to yield 6%. Determine

2. A $100 par value bond with 7% annual coupons and maturing at par in 4 years sells at a price to yield 6%. Determine the modified duration of the bond. Select one: a. 3.63 b. 3.43 c. 3.67 d. 3.72 e. 3.46

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