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A coupon bond has a remaining maturity of 4 years. The bond has a 3% coupon paid annually. The current yield to maturity (YTM) of

A coupon bond has a remaining maturity of 4 years. The bond has a 3% coupon paid annually. The current yield to maturity (YTM) of the bond is 2% (annual compounding). What are the MacAuley's Duration and Modified Duration measures of the bond? Modified Duration = MacAuley's Duration / (1+ YTM).

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