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Elsa has a portfolio consisting of the following: 4 0 0 shares of preferred stock with annual dividends of $ 0 . 2 6 1

Elsa has a portfolio consisting of the following:
400 shares of preferred stock with annual dividends of $0.26
15-year $2500 zero-coupon bond
Find the Macaulay duration of Elsa's portfolio at 5%. Round your answer to three places after the decimal.
(0.05,\infty ) years

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