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A $2,000 face value bond has a 6.0% coupon and pays interest annually. The bond matures in 2 years and the annual market interest is

A $2,000 face value bond has a 6.0% coupon and pays interest annually. The bond matures in 2 years and the annual market interest is 7%. What is the Macaulay duration? 1.89734 years 1.94289 years 1.24368 years 2.17843 years None of the above

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