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A bond with a par value of $1.000 and an 8.50% semi-annual coupon rate has 4 years to maturity. It is currently priced to yield

A bond with a par value of $1.000 and an 8.50% semi-annual coupon rate has 4 years to maturity. It is currently priced to yield 10.25% What is the bond's Macaulay's duration? 2.57 years 2.96 years 3.30 years 3.46 years 4.00 years

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