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A semiannual coupon corporate bond with exactly 8 years until maturity has a coupon rate of 10% and a yield to maturity of 7%. Assuming

A semiannual coupon corporate bond with exactly 8 years until maturity has a coupon rate of 10% and a yield to maturity of 7%. Assuming a 10 bps change in the yield to maturity, the approximate Macaulay duration is closest to:

A)5.9 years. B)

5.6 years.

C)6.2 years.

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