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An 8% coupon bond with a par value of $1,000 and a maturity of 3...

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Finance

An 8% coupon bond with a par value of $1,000 and a maturity of 3 years has a yield to maturity of 9.02%. Coupons of the bond are paid annually. What is the modified duration of this bond?

a. 2.4490 years b. 2.6875 years c. 2.5503 years d. 2.9145 years e. None of the options.

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