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A bond pays annual interest. Its coupon rate is 9%. Its value at maturity is $1,000. It matures in 5 years. Its yield to maturity

A bond pays annual interest. Its coupon rate is 9%. Its value at maturity is $1,000. It matures in 5 years. Its yield to maturity is currently 6%. The duration of this bond is _______ years. Group of answer choices

a. 2.44

b. 3.23

c. 4.29

d. 3.56

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