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An investor has a portfolio containing 10,000 worth of a 2-year bond with a modified duration of 1.95; 40,000 worth of a 4-year bond with

An investor has a portfolio containing 10,000 worth of a 2-year bond with a modified duration of 1.95; 40,000 worth of a 4-year bond with a modified duration of 3.71; and 50,000 worth of a 6-year bond with a modified duration of 5.50. Calculate the modified duration of the entire portfolio.

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