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A bond has a face value of $1,000, an annual coupon rate of 7%, yield to maturity of 10%, and 20 years to maturity. The

A bond has a face value of $1,000, an annual coupon rate of 7%, yield to maturity of 10%, and 20 years to maturity. The bond's duration is: Please show work

10.0 years
7.4 years
20.0 years
12.6 years

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