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2. The mid-term debt consists of 2-year bonds paying an annual coupon of 6% and selling at par (i.e. annual yield equals coupon rate). What

2. The mid-term debt consists of 2-year bonds paying an annual coupon of 6% and selling at par (i.e. annual yield equals coupon rate). What is the duration of the mid-term debt? Round your result to two decimal places (5pts)

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