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No excel. Question 14.14 Stock XYZ pays a constant dividend at the end of each year into perpetuity. Using an annual effective interest rate of

No excel.

Question 14.14 Stock XYZ pays a constant dividend at the end of each year into perpetuity. Using an annual effective interest rate of 8%, calculate the Macaulay duration of the stock. A 11.6 B 12.0 C 12.5 D 13.5 E 14.6

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