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The price of a bond decreased by 1.84% (e. AP/P--1.84%) in response to an increase in the yield to maturity (YTM) from 6.8% to 7.2%.

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The price of a bond decreased by 1.84% (e. AP/P--1.84%) in response to an increase in the yield to maturity (YTM) from 6.8% to 7.2%. What is the bond's approximate Macaulay duration Assume annual coupon payment. 491 years 476 years 3:47 years 3.80 years

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