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A bond with a coupon rate of 8 percent sells at a yield to maturity of 7 percent. If the bond matures in 10 years,
| A bond with a coupon rate of 8 percent sells at a yield to maturity of 7 percent. If the bond matures in 10 years, what is the Macaulay duration? (Do not round intermediate calculations. Round your answer to 3 decimal places.) |
| Macaulay duration | years |
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