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A bond with a coupon rate of 9 percent sells at a yield to

A bond with a coupon rate of 9 percent sells at a yield to maturity of 11 percent. If the bond matures in 15 years, what is the Macaulay duration of the bond? What is the modified duration? (Do not round intermediate calculations. Round your answers to 3 decimal places.)

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Financial Management: A bond with a coupon rate of 9 percent sells at a yield to

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