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A bond currently sells for $1,175, which gives it a yield to maturity of 5%. Suppose that if the yield increases by 35 basis points,

A bond currently sells for $1,175, which gives it a yield to maturity of 5%. Suppose that if the yield increases by 35 basis points, the price of the bond falls to $1,140.

Required:

What is the duration of this bond? (Round your answer to 2 decimal places.)

Duration

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