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There are four bonds which have the same time to maturity and yield to maturity, but they differ in couple rate and coupon payment frequency.

There are four bonds which have the same time to maturity and yield to maturity, but they differ in couple rate and coupon payment frequency. Bond A pays an annual coupon of 8%, bond B pays a semi-annual coupon of 4% twice per year, bond C pays a semi-annual coupon of 5% twice per year, and bond D pays an annual coupon of 10%. Which one has the shortest duration?

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