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A bond currently sells for $1.070, which gives it a yield to maturity of 6%. Suppose that if the yield increases by 25 basis points,

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A bond currently sells for $1.070, which gives it a yield to maturity of 6%. Suppose that if the yield increases by 25 basis points, the price of the bond falls to $1,045. What is the duration of this bond? (Do not round intermediate calculations. Round your answer to 4 decimal places.) Duration years

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