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2 of 3 ID: MF.DI.D.04A [1 mark] Renegade Sports have issued 5 year bonds to raise capital for expansion into new markets. The bonds pay

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2 of 3 ID: MF.DI.D.04A [1 mark] Renegade Sports have issued 5 year bonds to raise capital for expansion into new markets. The bonds pay coupons annually at an effective annual rate of 7% pa. The face amount of the bonds is $190,000 and they have an effective annual yield of 4% pa. Calculate the duration (D) of the Renegade bonds. Give your answer in years to 2 decimal places. D= years RENEGADE SPORTS

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