Calculate the duration of this, Financial Management

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Calculate the duration of this

Given the following bond:

Par Value = $1000

Time to Maturity = 8 years

Coupon Rate = 6.25%

Coupons are paid annually.

Calculate the Duration of this bond. (Do not round off intermediate calculations and round your final answer to 2 decimal places (e.g. 32.16))

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Financial Management: Calculate the duration of this

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Financial Management: Calculate the duration of this

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