Question: Please explain and show work Consider a bond with a face value of $1,000, an annual coupon rate of 6 percent, a yield to maturity

Please explain and show work

Consider a bond with a face value of $1,000, an annual coupon rate of 6 percent, a yield to maturity of 8 percent, and 10 years to maturity. This bond's duration is Multiple Choice O 8.7 years. 7.6 years. O 10.0 years. O 6.5 years

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