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A quarterly coupon bond has a coupon rate of 8%, face value of $1,000, and...

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Finance

A quarterly coupon bond has a coupon rate of 8%, face value of $1,000, and 1 year to maturity. If its yield to maturity is 5%, what is its Macaulay Duration? a. 0.959 b. 0.965 c. 0.971 d. 0.978 e. 0.985

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