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Following are the details of the bonds in a portfolio. Bond A Bond B Bond C Market value $100,000 $300,000 $500,000 Macaulay duration 4 6

Following are the details of the bonds in a portfolio.

Bond A Bond B Bond C

Market value $100,000 $300,000 $500,000

Macaulay duration 4 6 8

YTM 1 2 3

The portfolio modified duration is closest to:

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