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Consider an 8-year risk-free coupon bond with face value $100, coupon rate of 3.5% and yield-to-maturity of 3%. What is the Macaulay duration of this

Consider an 8-year risk-free coupon bond with face value $100, coupon rate of 3.5% and yield-to-maturity of 3%. What is the Macaulay duration of this bond?

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5.12 years

6.98 years

7.13 years

8.11 years

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