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A bond with a coupon rate of 12 percent sells at a yield to maturity of 14 percent. If the bond matures in 15

A bond with a coupon rate of 12 percent sells at a yield to maturity of 14 percent. If the bond matures in 15 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. Macaulay Modified Duration 7.185 years 6.302 years

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