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Steel Pier Company has issued bonds that pay semiannually with the following characteristics Coupon 10% Yield to Maturity 10% Maturity 10 years Macaulay Duration 6.76

Steel Pier Company has issued bonds that pay semiannually with the following characteristics Coupon 10% Yield to Maturity 10% Maturity 10 years Macaulay Duration 6.76 years The modified duration for the Steel Pler bond is Multiple Choice 6.15 years 5.95 years Multiple Choice O 6.15 years 5.95 years 6.49 years O 9.09 years

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