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An investor buys a 3 - year bond with a 5 . 9 % coupon rate paid annually. The bond, is priced at a yield

An investor buys a 3-year bond with a 5.9% coupon rate paid annually. The bond, is priced at a yield-to-maturity of 6.4%.
Assuming a 5 bp change in the YTM, what is the bonds approximate modified duration?

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