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A $1,000 semiannual coupon bond matures in 9 years, has a coupon rate of 4.5 percent, and a yield to maturity of 5%. What is

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A $1,000 semiannual coupon bond matures in 9 years, has a coupon rate of 4.5 percent, and a yield to maturity of 5%. What is its Macaulay duration? 7.34 years 7.47 years 7.59 years 7.87 years

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