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Company R has just issued a new 3-year bond, which pays an annual 6% coupon with par value of $100 per bond. If it is

  1. Company R has just issued a new 3-year bond, which pays an annual 6% coupon with par value of $100 per bond. If it is priced at yield of 7.8% p.a, the bonds Macauley duration is closest to:

    A. 2.8 B. 3.0 C. 3.4

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