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A $1,000 par value bond pays an annual coupon of 10.0% and matures in 4 years. If the bond sells to yield 7%, what is

A $1,000 par value bond pays an annual coupon of 10.0% and matures in 4 years. If the bond sells to yield 7%, what is the modified duration of this bond?

a) The regular duration is:

b) The modified duration is:

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