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The Macaulay duration of a bond currently trading at $1,000, par value of $1,000, coupon rate of 8% that is paid annually, and a remaining

The Macaulay duration of a bond currently trading at $1,000, par value of $1,000, coupon rate of 8% that is paid annually, and a remaining time to maturity of 5 years is

a. 5 Years b. 5.4 Years c. 4.17 Years d. 4.31 Years e. None of the above

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