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Consider a three-year corporate bond selling for $973.27, paying interest annually, with a face value of $1,000, a coupon rate of 5%, and a YTM

  1. Consider a three-year corporate bond selling for $973.27, paying interest annually, with a face value of $1,000, a coupon rate of 5%, and a YTM of 6%. What is the duration of this bond?
  1. 2.86 years
  2. 2.73 years
  3. 2.98 years
  4. 2.24 years

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