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You own a bond that mature in three years. It has a 6% coupon, with a current price of %948.46. Current market rates for three-year

You own a bond that mature in three years. It has a 6% coupon, with a current price of %948.46. Current market rates for three-year securities are 8%. The PV factors at 8% are .926, .857, .794, .735, and .681 for 1 through 5 years. What is the duration of your bond?

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