Question: You find a bond with 28 years until maturity that has a coupon rate of 10 percent and a yield to maturity of 12

You find a bond with 28 years until maturity that has a coupon rate of 10 percent and a yield to maturity of 12 percent. What is the Macaulay duration? The modified duration? Note: Do not round intermediate calculations. Round your answers to 3 decimal places. Answer is complete but not entirely correct. Duration Macaulay Modified 9.194 years 8.209 years

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