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Consider the following information and assume that bond A pays interest semi-annually, so that below are semiannual bond equivalent yields: A Coupon 6.5% YTM 6.5%

Consider the following information and assume that bond A pays interest semi-annually, so that below are semiannual bond equivalent yields: A

Coupon 6.5%

YTM 6.5%

Maturity 2.5

Par 100

Price 100

Calculate the Macaulay duration (not approximate duration) in years of bond A. Round to 4 decimal places.

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