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please provide explanation. A three year annual coupon bond has coupons of 10 per...

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please provide explanation.

A three year annual coupon bond has coupons of 10 per year starting one year from now and matures in three years for amount 100. The yield to maturity for the bond is 11.8%. Find the Macaulay duration for the bond. (A) 2.64 (B) 2.73 (C) 2.82 (D) 2.91 (E) 3.00

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