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Assume that an 8% corporate bond that matures in six years later has a yield-to-maturity of 10.40%. The coupon is paid semiannually on 15 February

Assume that an 8% corporate bond that matures in six years later has a yield-to-maturity of 10.40%. The coupon is paid semiannually on 15 February and 15 August. Required: Calculate the following: (i) Bond price per RM100 of par value (ii) Modified duration of the bond (iii) Approximate duration of the bond.

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