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You intend to purchase a 1 -year, $1,000 face value bond. Coupon rate of this bond is 24%. Market interest rate is 18 percent. Coupon

You intend to purchase a 1 -year, $1,000 face value bond. Coupon rate of this bond is 24%. Market interest rate is 18 percent. Coupon payments are semiannual, what is the duration of the bond? (Answer is rounded) 1.90 1.94 1.97 1.99 2.13

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