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7 A bond has a Macaulay duration of 5 5 , a yield to maturity of 6 1 percent , a coupon rate of 70

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7 A bond has a Macaulay duration of 5 5 , a yield to maturity of 6 1 percent , a coupon rate of 70 percent , and semiannual interest payments . What is the bond's modified duration ? A 4. 59 years B 5. 34 years L 5 .92 years D 6 06 years L 6 . 26 years

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