Question: Compute the modified duration for a 4-year bond paying annual coupons of 10% and having a yield to maturity of 13%. a. 3.46 b. 3.06

Compute the modified duration for a 4-year bond paying annual coupons of 10% and having a yield to maturity of 13%.

a.

3.46
b.

3.06
c.

3.37
d.

4.00
e.

3.54

please explain steps

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