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A portfolio manager wants to estimate the interest rate risk of a bond using duration. The current price of the bond is 98. A valuation

A portfolio manager wants to estimate the interest rate risk of a bond using duration. The current price of the bond is 98. A valuation model found that if interest rates decline by 35 basis points, the price will increase to 101 and if interest rates increase by 35 basis points, the price will decline to 96. What is the duration of this bond?

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