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An investor buys a 3.8% annual payment bond with 8 years to maturity. The bond is priced at a yield-to-maturity of 5.6%. What is the

An investor buys a 3.8% annual payment bond with 8 years to maturity. The bond is priced at a yield-to-maturity of 5.6%. What is the bonds Macaulay duration?

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