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Which of the following bonds has the longest duration? A 4-year, 3%-coupon bond A 12-year, 6%-coupon bond A 4-year, 6%-coupon bond A 12-year, 3%-coupon bond

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Which of the following bonds has the longest duration? A 4-year, 3\%-coupon bond A 12-year, 6\%-coupon bond A 4-year, 6\%-coupon bond A 12-year, 3\%-coupon bond

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