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An Apple annual coupon bond has a coupon rate of 5.5%, face value of $1,000, and 4 years to maturity. If its yield to maturity
An Apple annual coupon bond has a coupon rate of 5.5%, face value of $1,000, and 4 years to maturity. If its yield to maturity is 5.5%, what is its Macaulay Duration? Answer in years, rounded to three decimal places.
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