What is the macaulay duration

Reference no: EM13291637

A $1,000, 7% annual coupon bond matures in three years. The bond is currently priced at $974.23 and has a YTM of 8.0%. What is the Macaulay duration?

A) 1.95 years
B) 2.60 years
C) 2.81 years
D) 3.00 years

Reference no: EM13291637

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