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A bond issued by IBM on December 1 , 1 9 9 6 , is scheduled to mature on December 1 , 2 0 9

A bond issued by IBM on December

1, 1996,

is scheduled to mature on December

1, 2096,

If today is December

2, 2017,

what is this bond's time to maturity?

(

Use

365

days a year.

)

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