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A bond is traded with the following terms: 1) $100 of face value; 2) two years to maturity; 3) 12% annual coupon rate; 4) 12%

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A bond is traded with the following terms: 1) $100 of face value; 2) two years to maturity; 3) 12% annual coupon rate; 4) 12% yield to maturity. Which one below is closest to the bond's duration? (Please round your calculation to the nearest 2nd decimal.) A. 1.85 B. 1.87 C. 1.89 D. 1.91 E. 1.93

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