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Suppose your bond portfolio is composed of $1 million in bonds with a Macauley duration of 5 and $1 million in bonds with a Macauley

Suppose your bond portfolio is composed of $1 million in bonds with a Macauley duration of 5 and $1 million in bonds with a Macauley duration of 15. The Macauley duration of your bond portfolio is:

a 5

b 10

c 15

d We can't tell without further information

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