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3. A bond with 5% annual coupons matures at par in 2 years. The bond sells at par. Determine the modified duration of the bond.

3. A bond with 5% annual coupons matures at par in 2 years. The bond sells at par. Determine the modified duration of the bond. Select one: a. 1.859 b. 1.928 c. 1.952 d. 1.997 e. 1.881

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