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Consider a bond having the following features: Face Value: $ 1 , 0 0 0 Remaining Time to Maturity: 4 years Coupon Rate: 9 %

Consider a bond having the following features:

Face Value: $

1, 000

Remaining Time to Maturity:

4

years

Coupon Rate:

9 %

Payments Per Year:

1

Required Return:

12 %

Calculate the duration measure for this bond.

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