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A bond pays annual interest. Its coupon rate is 7 % . Its value at maturity is $ 1 , 0 0 0 . It

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 7%.
What is the Macualay duration of the bond?
2.77
2.81
2.83
3.0
3.42
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