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Calculate the modified duration of a bond that has a Macaulay duration of 7.6 and the bond pays interest annually with a coupon rate of

Calculate the modified duration of a bond that has a Macaulay duration of 7.6 and the bond pays interest annually with a coupon rate of 6% and a required rate of return of 8%.

7.17

7.31

7.38

8.12

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