You have discovered that when the required rate of return on abond you own fell by 0.5 percent from

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You have discovered that when the required rate of return on abond you own fell by 0.5 percent from 9.3 percent to 8.8 percent,the fair present value rose from $965 to $975. What is the durationof this bond? Assume annual payments. ((Do not round intermediatecalculations. Round your answer to 2 decimal place. (e.g., 32.12))Duration of this bond . . .

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