Question: The bond face value is $100 and yield is 8%. This bond has a 3-year maturity, 7% coupon rate, paid annually. The duration of this

The bond face value is $100 and yield is 8%. This bond has a 3-year maturity, 7% coupon rate, paid annually. The duration of this bond is

A. 1.81 years

B. 3 years

C. 2.81 years

D. 2.5 years

E. None of them is correct

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