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You find a bond with 25 years until maturity that has a coupon rate of 8 percent and a yield to maturity of 9 percent.

You find a bond with 25 years until maturity that has a coupon rate of 8 percent and a yield to maturity of 9 percent. What is the Macaulay duration? The modified duration? (Do not round intermediate calculations. Round your answers to 3 decimal places.)

Duration
Macaulay years
Modified years

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