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A bond with a coupon rate of 1 0 percent sells at a yield to maturity of 1 1 percent. If the bond matures in

A bond with a coupon rate of

10

percent sells at a yield to maturity of

11

percent. If the bond matures in

10

years, what is the Macaulay

duration of the bond? What is the modified duration?

Note: Do not round intermediate calculations. Round your answers to

3

decimal places.

Answer is complete but not entirely correct.

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