Question: What is the modified duration for a 3-years to maturity, 5% annual coupon bond, when the yield-to-maturity is 7%?(Do not round intermediate calculations and round

What is the modified duration for a 3-years to maturity, 5% annual coupon bond, when the yield-to-maturity is 7%?(Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16) Answer: ______

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