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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

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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 the bond will go up to $1,120. The Macaulay duration of this bond is years. A 3.68 B. 3.85 C. 4.09 D. 3.64

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