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What is the duration of a 4-year, 6%-coupon, $1000-par T-Note at issuance, when market interest rate is 7%? Round your calculations to the nearest 0.01,

What is the duration of a 4-year, 6%-coupon, $1000-par T-Note at issuance, when market interest rate is 7%?

Round your calculations to the nearest 0.01, i.e., two decimal places. You are strongly recommended to use Excel for this question.

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