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A $1,000 face value annual coupon payment bond with 3 years to maturity with a ...
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A $1,000 face value annual coupon payment bond with 3 years to maturity with a 12% annual coupon rate has an annualized yield-to-maturity of 9%. What is the Macaulay duration of the bond?
67%
0%
0%
33%
0%