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Required: a. Find the duration of a 5% coupon bond making annual coupon payments if it has three years until maturity and a yield to

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Required: a. Find the duration of a 5% coupon bond making annual coupon payments if it has three years until maturity and a yield to maturity of 6.3\%. (Do not round intermediate calculations. Round your answers to 4 decimal places.) b. What is the duration if the yield to maturity is 10.3% ? (Do not round intermediate calculations. Round your answers to 4 decimal places.)

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