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bond pays annual interest. Its coupon rate is 9 % . Its value at maturity is $ 1 , 0 0 0 . It matures

bond pays annual interest. Its coupon rate is

9 % .

Its value at maturity is $

1, 000 .

It matures in

4

years. Its yield to maturity is currently

6 % .

The modified duration of this bond is

________

years.

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