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An investor evaluates the durations of the following bonds Bond 1 Bond 2 Bond 3 8 yrs 8 yrs 8 yrs Tenor Coupon Yield 4.0%

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An investor evaluates the durations of the following bonds Bond 1 Bond 2 Bond 3 8 yrs 8 yrs 8 yrs Tenor Coupon Yield 4.0% 5.0% 4.25% 5.0% 4.25% 4.75% a. Comparing Bond 1 and Bond 2, which bond most likely has a higher modified duration? Why? b. Comparing Bond 2 and Bond 3, which bond most likely has a higher modified duration? Why

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