Question: Consider a bond with a $1,000 par value, five years to maturity, with a 6% annual coupon. The yield to maturity is 8% and the

Consider a bond with a $1,000 par value, five years to maturity, with a 6% annual coupon. The yield to maturity is 8% and the bond is selling for $920.15. What is the duration of the bond?

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