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A bond has a yield to maturity of 7 percent. It matures in 15 years. Its coupon rate is 7 percent. What is its modified

A bond has a yield to maturity of 7 percent. It matures in 15 years. Its coupon rate is 7 percent. What is its modified duration? The bond pays coupons twice a year.

(Do not round intermediate calculations. Enter your answers rounded to 2 decimal places.)

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