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A fund will need to pay out $2 million next year, $3 million the following year, and then $5 million in the fifth year .

A fund will need to pay out $2 million next year, $3 million the following year, and then $5 million in the fifth year . If the discount rate is 7%, what is the Macaulay duration of this set of payments?

	A.	3.10
	B.	2.98
	C.	3.15
	D.	3.20

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