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A four-year maturity deep discount coupon corporate bond with a required rate of return (YTM) of 12 percent has a Macaulay duration of ________ years.
A four-year maturity deep discount coupon corporate bond with a required rate of return (YTM) of 12 percent has a Macaulay duration of ________ years. ( show your work clearly )
A.3.05
B.2.97
C.3.22
D.3.71
E. 4.00
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