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Use the following information to calculate the present value of a bond: Par: $1,000 Annual coupon rate: 2.4% Payment frequency: semi-annual Maturity: 8 years Yield

Use the following information to calculate the present value of a bond: Par: $1,000 Annual coupon rate: 2.4% Payment frequency: semi-annual Maturity: 8 years Yield to mat: 2.5%
Continuing with the same bond data used above, calculate the bond's modified duration

14.65

7.32

7.24

7.23

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