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You intend to purchase a 2-year bond. The bond has a $3,500 face value and coupon payments are quarterly. Coupon rate of this bond is

You intend to purchase a 2-year bond. The bond has a $3,500 face value and coupon payments are quarterly. Coupon rate of this bond is 6%. Market interest rate is 4 percent, what is the duration of the bond (in terms of quarters)? (Answer is rounded)

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