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PTRA Inc.'s $1,000 face value 8% coupon bond has remaining maturity of 10 months. It pays coupon every 3 months. Annual interest rates for upcoming

PTRA Inc.'s $1,000 face value 8% coupon bond has remaining maturity of 10 months. It pays coupon every 3 months. Annual interest rates for upcoming coupon payment dates are 7%,12%, 11%, and 9% and the current yield curve is downward slopping.

Calculate the durationof the bond?

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