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A 300 par-value bond with 15% annual coupons and maturing at par in 2 years sells at a price to yield 4%. Determine the Macaulay

A 300 par-value bond with 15% annual coupons and maturing at par in 2 years sells at a price to yield 4%. Determine the Macaulay duration of the bond. (Round your answer to the nearest two decimals.)

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