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Calculate the duration of a two-year, $1,000 bond that pays an annual coupon of 9 percent and trades at a yield of 6 percent What

Calculate the duration of a two-year, $1,000 bond that pays an annual coupon of 9 percent and trades at a yield of 6 percent

What is the duration? What is the modified duration? What is the expected dollar change in the price if interest rates fall by 0.5% (50 basis points)?

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