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a) Determine Macaulay duration of a bond that has a face value of $1000, an 8% annual coupon rate, and 4 years until maturity. The

a) Determine Macaulay duration of a bond that has a face value of $1000, an 8% annual coupon rate, and 4 years until maturity. The bonds YTM is 10%.

b) what is the modified duration for this bond?

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