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Consider a security with a face value of $100,000 to be repaid at maturity. The maturity of the security is 1.5 years. The coupon rate

Consider a security with a face value of $100,000 to be repaid at maturity. The maturity of the security is 1.5 years. The coupon rate is 7% p.a. and coupon payments are made semiannually. The current market rate is 12% p.a. What is the securitys duration (round your answer to two decimals)?

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