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A bond pays annual interest. Its coupon rate is 7%. Its value at maturity is $1,000. It matures in three years. Its yield to maturity

A bond pays annual interest. Its coupon rate is 7%. Its value at maturity is $1,000. It matures in three years. Its yield to maturity is currently 6%. The duration of this bond is:

Group of answer choices

2.77 years

2.81 years

2.54 years

2.44 years

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