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Consider a bond with 30 years remaining to maturity that pays an 8% annual coupon payment and has a $1,000 face value. The yield to

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Consider a bond with 30 years remaining to maturity that pays an 8% annual coupon payment and has a $1,000 face value. The yield to maturity of the bond is 7%. Calculate the duration of the bond. (Hint: compute bond price

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