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A ten - year 6 % $ 1 , 0 0 0 bond having annual coupons and a redemption of $ 1 , 2 0

A ten-year 6% $1,000 bond having annual coupons and a redemption of
$1,200 if the yield to maturity is 8%. Calculate:
1. the Macaulay duration, and
2. the Macaulay convexity.

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