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

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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