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A bond with a coupon rate of 7 percent sells at a yleld to maturity of 8 percent. If the bond matures in 11 years,

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A bond with a coupon rate of 7 percent sells at a yleld to maturity of 8 percent. If the bond matures in 11 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) Macaulay Modified Duration 7.900 years 7.315 years

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