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A bond has a $1,000 par value and an 8 percent coupon rate. The bond has four years remaining to maturity and a 10 percent
A bond has a $1,000 par value and an 8 percent coupon rate. The bond has four years remaining to maturity and a 10 percent yield to maturity.
This bond's duration is ________ years.
a) 2.00
b) 3.56
c)1.40
d) 1.44
e) none of these choices are correct
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