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Dakota purchased a 1 0 - year, $ 2 , 0 0 0 bond with an annual coupon rate of 7 . 5 0 %

Dakota purchased a 10-year, $2,000 bond with an annual coupon rate of 7.50% for $1,837.78. What is the Macaulay duration of the bond (rounded to two decimal places), assuming a yield to maturity of 8.75%?

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