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A bond with a coupon rate of 7 percent sells at a yield to maturity of 8 percent. If the bond matures in 10 years,

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A bond with a coupon rate of 7 percent sells at a yield to maturity of 8 percent. If the bond matures in 10 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 7.500 3 years Modified 7.310 yoans

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