Question
The Clarence Corporation has issued bonds that pay semiannually with the following characteristics: Coupon Yield to Maturity Maturity Macaulay Duration 8% 8% 14 8.66 years
The Clarence Corporation has issued bonds that pay semiannually with the following characteristics:
| Coupon | Yield to Maturity | Maturity | Macaulay Duration |
| 8% | 8% | 14 | 8.66 years |
Calculate modified duration using the information provided. Do not round intermediate calculations. Round your answer to two decimal places. Use only the data provided in the table above (in the problem statement) for your calculations.
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Behavioral Finance
Authors: Edwin Burton, Sunit N. Shah
1st Edition
111830019X, 978-1118300190
