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Question 3 of 30 points BAC Industries (Ticker: BAC) has issued bonds that pay 3.50% annual rate (paid semiannually) coupons at par value with a

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Question 3 of 30 points BAC Industries (Ticker: BAC) has issued bonds that pay 3.50% annual rate (paid semiannually) coupons at par value with a yield to maturity of 3.50%, thirty years until maturity, and currently have a duration of 21.89 years. It the bond's coupon was smaller than 3.50%, the modified duration would be compared to the original modified duration larger Not enough information to determine the correct answer. unchanged smaller

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