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You use bond duration to predict bond price changes. A bond you are analyzing makes semiannual coupon payments and currently yields 4.82%. According to the
You use bond duration to predict bond price changes. A bond you are analyzing makes semiannual coupon payments and currently yields 4.82%. According to the duration measure, the expected bond price change is an increase of 2.1035% for a decrease of 1.7% in the yield. What is the bond's Macaulay duration? Round to four decimals.
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