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A bond with 3 years maturity and face value $1000has a coupon rate of 5%. The yield to maturity is YTM = 10%. The cash

A bond with 3 years maturity and face value $1000has a coupon rate of 5%. The yield to maturity is YTM = 10%. The cash flows are shown in the table below. Calculate the duration of the bond

year 1 cash flow 50

year 2 cash flow 50

year 3 cash flow 1050

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