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A 7.2% annual coupon, $1,000 par value bond with four years remaining to maturity is priced with a yield to maturity of 8%. What is

image text in transcribed A 7.2% annual coupon, $1,000 par value bond with four years remaining to maturity is priced with a yield to maturity of 8%. What is this bond's duration? 2.97 years 3.15 years 3.84 years 3.61 years

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