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Given its time to maturity, the duration of a zero-coupon bond is _________. a. higher when the discount is lower b. higher when the discount

Given its time to maturity, the duration of a zero-coupon bond is _________.

a. higher when the discount is lower

b. higher when the discount is higher

c. lowest when the discount is equal to the risk-free rate

d. the same regardless of the discount rate.

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