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What is the annual modified duration of a 10 year, 9% coupon bond with a yield to maturity of 9% and a current price of

  1. What is the annual modified duration of a 10 year, 9% coupon bond with a yield to maturity of 9% and a current price of 100 (assume a par value of 100 and semiannual coupon payments)?

  1. 135.3317
  2. 67.6658
  3. 13.0079
  4. 6.5039

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