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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. 3.05

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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. 3.05 2.97 3.22 3.71 4.00

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