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A portfolio of short-term bonds has expected cash flows of $350mln, $274mln, and $241mln at the end of Years 1, 2, and 3, respectively. Currently,
A portfolio of short-term bonds has expected cash flows of $350mln, $274mln, and $241mln at the end of Years 1, 2, and 3, respectively. Currently, the appropriate one-, two-, and three-year yields are 2.31%, 3.47%, and 3.87%, respectively. What is the portfolio's two-year rate duration? Round to four decimals
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