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A bond currently has a price of $1,100. The yield on the bond is 6%. If the yield decreases 50 basis points, the price of

A bond currently has a price of $1,100. The yield on the bond is 6%. If the yield decreases 50 basis points, the price of the bond will go up to $1,120. The Macaulay duration of this bond is ____ years.

	A.	3.68
	B.	4.09
	C.	3.64
	D.	3.85

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