A bond that has an annual coupon rate of 11% has three years to maturity. If the current discount rate is 16%, what is the bond's Macaulay's duration?
A) 3.00 years
B) 2.991. years
C) 2.89 years
D) 2.79 years
E) 2.69 years

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The Answer of A bond that has an annual coupon rate of 11% has three years to maturity. If the current discount rate is 16%, what is the bond's Macaulay's duration?
A) 3.00 years
B) 2.991. years
C) 2.89 years
D) 2.79 years
E) 2.69 years

A Bond That Has an Annual Coupon Rate of 11