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. Which of the following bonds has a longer duration? Provide your reasoning. a. Bond A: 4-year maturity, 5% coupon, $1 million face/par value; market

. Which of the following bonds has a longer duration? Provide your reasoning. a. Bond A: 4-year maturity, 5% coupon, $1 million face/par value; market rate is 6% Bond B: 4-year maturity, 0% coupon, $1 million face value; market rate is 6% b. Suppose that the market rate on each bond falls to 4%. Which of the bonds will change more in price? Provide your reasoning.

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