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a. For the same tourism company in the first subject a bond has a face value of 1,000, an annual coupon rate of 6.0%, a

a. For the same tourism company in the first subject a bond has a face value of 1,000, an annual coupon rate of 6.0%, a yield to maturity of 8.0% and 10 years to maturity. Calculate the duration of the bond and describe in detail the steps for this process.

Please solve it by hand and desribe your train of thought.

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