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At an 8% bond equivalent yield, a level perpetuity pays $40 Twice a year. The duration of the perpetuity is a. 13.5years b. 11.0 years

At an 8% bond equivalent yield, a level perpetuity pays $40 Twice a year. The duration of the perpetuity is

a. 13.5years

b. 11.0 years

c. 13.0 years

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