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Which has a longer Macaulays duration: a $1 million face value zero coupon bond with a two-year maturity and a yield of 6 percent, or

Which has a longer Macaulays duration: a $1 million face value zero coupon bond with a two-year maturity and a yield of 6 percent, or a $1 million face value coupon bond with a two-year maturity that pays 6 percent coupon interest? Explain your reasoning

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