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Consider a newly issued 2-year bond with a $1,000 face value, a coupon rate of 4% paid semi-annually, and a YTM of 6%. Calculate the

Consider a newly issued 2-year bond with a $1,000 face value, a coupon rate of 4% paid semi-annually, and a YTM of 6%. Calculate the Macaulay duration for this bond.

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