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Which of the following statements about duration is true Short duration bonds are always preferable to long duration bonds The duration of a bond is

Which of the following statements about duration is true
1. Short duration bonds are always preferable to long duration bonds
2. The duration of a bond is sometimes longer than the maturity of the bond
3. Duration is the investment period necessary to offset price risk and reinvestment
4. A bond sold at the duration point will always be priced at $1000

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