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Explain each step Question 3 (1 point) Consider a 1 year, 6% semiannual coupon bond with YTM of 16.8%. Calculate the duration of the bond.

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Question 3 (1 point) Consider a 1 year, 6% semiannual coupon bond with YTM of 16.8%. Calculate the duration of the bond. Please report your answer in years rounded to four decimal places

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