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A bond with annual coupon payments has a coupon rate of 8%, and YTM of 10%. If its Macaulay's duration is 9 years, the bond's

A bond with annual coupon payments has a coupon rate of 8%, and YTM of 10%. If its Macaulay's duration is 9 years, the bond's modified duration is..?

a)9 years

b)8.18 years

c)10 years

d)8.33 years

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