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A bond currently has a price of $1,050. The yield on the bond is 7%. If the yield increases 21 basis points, the price of

A bond currently has a price of $1,050. The yield on the bond is 7%. If the yield increases 21 basis points, the price of the bond will go down to $1,021. The duration of this bond is ____ years.

a)14.09

b)13.14

c)12.26

d)14.50

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