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A corporate bond pays quarterly coupons. Its annual coupon rate is 8%. Its par value at maturity is $1,000. The bond matures in 2 years.

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A corporate bond pays quarterly coupons. Its annual coupon rate is 8%. Its par value at maturity is $1,000. The bond matures in 2 years. Its annual yield to maturity is currently 12%. The Macaulay's duration of this bond is OA. 1.9 years B. 0.8 years C. 7.4 years OD. 4.5 years

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