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Calculate the annual Macaulay duration ( D m a c ) of a bond with a 7 . 5 0 percent coupon, a 5 -

Calculate the annual Macaulay duration (Dmac) of a bond with a 7.50 percent coupon, a 5-year maturity with a yield to maturity of 2.57, and face value of $1000. Interest is paid annually. [Hint: don't forget to compute the current price of the bond.]
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