Question: You will be paying $ 1 1 , 0 0 0 a year in tuition expenses at the end of the next two years. Bonds

You will be paying $11,000 a year in tuition expenses at the end of the next two years. Bonds currently yield 8%.Required:a. What are the present value and duration of your obligation? (Do not round intermediate calculations. Round "Present value" to 2 decimal places and "Duration" to 4 decimal places.)

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