A 7% semiannual payment corporate bond that matures on Jan 11, 2035 is purchased for settlemant on its coupon payment date of July 11, 2023. If the bond is priced with 10.2% ytm , the bond’s annual macaulay duration is:
- 7.1
- 7.6
- 15.2
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Answer is 7.6 Years. Kindly refer the image attached.