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An annual coupon-paying bond has the following terms: 1) $100 face value; 2) 3-year maturity; and 3) 6% annual coupon rate. The bond's current

An annual coupon-paying bond has the following terms: 1) $100 face value; 2) 3-year maturity; and 3) 6% annual coupon rate. The bond's current yield-to-maturity is 10% per annum. What is the bond's duration? (3 marks) Enter your answer to 2 decimal places eg if your answer is 0.457 enter as 0.46 Font family Font size Paragraph

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