Question: A bond has a $1,000 par value and an 8 percent coupon rate. The bond has four years remaining to maturity and a 10 percent

A bond has a $1,000 par value and an 8 percent coupon rate. The bond has four years remaining to maturity and a 10 percent yield to maturity.

This bond's duration is ________ years.

a) 2.00

b) 3.56

c)1.40

d) 1.44

e) none of these choices are correct

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