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5. Consider the following bond which pays interest semiannually Coupon = 6% Yield to maturity = 8% Maturity in - 2 years Par value =

5. Consider the following bond which pays interest semiannually Coupon = 6% Yield to maturity = 8% Maturity in - 2 years Par value = $1,000 Price $963.70 Compute the Macaulay Duration and Modified Duration for the bond. (17 pt.)

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