Question: Problem 10-28 Calculating Duration (LO4, CFA6) A bond with a coupon rate of 7 percent sells at a yleld to maturity of 9 percent. If

Problem 10-28 Calculating Duration (LO4, CFA6) A bond with a coupon rate of 7 percent sells at a yleld to maturity of 9 percent. If the bond matures in 12 years. what is the Macaulay duration? (Do not round intermediate calculations. Round your answer to 3 decimal places.)

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