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What is the duration of a two-year bond that pays an annual coupon of 7 percent and has a current yield to maturity of 9

What is the duration of a two-year bond that pays an annual coupon of 7 percent and has a current yield to maturity of 9 percent? Use $1,000 as the face value. Round your calculations/answers to two decimals. : McDUR = PV(cash flows weighted by year of receipt) / PV(cash flows) Group of answer choices 1.97 years 1.95 years 1.91 years 1.99 years 1.93 years

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