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A bond has a Macaulay duration equal to 11.5 and a yield to maturity of 9.5%. What is the modified duration of this bond? The

image text in transcribed A bond has a Macaulay duration equal to 11.5 and a yield to maturity of 9.5%. What is the modified duration of this bond? The modified duration of this bond is (Round to two decimal places.) A bond has a Macaulay duration equal to 11.5 and a yield to maturity of 9.5%. What is the modified duration of this bond? The modified duration of this bond is (Round to two decimal places.)

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