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A bond pays annual interest. Its coupon rate is 6.7%. Its value at maturity is $1,000. It matures in 4 years. Its yield to maturity

A bond pays annual interest. Its coupon rate is 6.7%. Its value at maturity is $1,000. It matures in 4 years. Its yield to maturity is currently 3.7%. The duration of this bond is _______ years.

a)4.00

b)3.66

c)3.53

d)3.33

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