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Calculate the modified duration for a 5 year, 14.83% coupon bond with a yield to maturity of 8.66%. Assume the bond pays interest semi-annually and

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Calculate the modified duration for a 5 year, 14.83% coupon bond with a yield to maturity of 8.66%. Assume the bond pays interest semi-annually and has a par value of $100. Use a 20 basis point change as the annual change in rate for the duration calculation, and round all intermediate calculations to four digits. The modified duration is

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