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A bond with a coupon rate of 11 percent sells at a yield to maturity of 13 percent. If the bond matures in 15 years,

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A bond with a coupon rate of 11 percent sells at a yield to maturity of 13 percent. If the bond matures in 15 years, what is the Macaulay duration of the bond? What is the modified duration? (Do not round intermediate calculations. Round your answers to 3 decimal places.) Answer is complete but not entirely correct. Duration Macaulay Modified 8.050 7.520 years years

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