Suppose a company XYZ Ltd issued a 10 year bond with 8% coupon rate paid annually and $1000 face value. The bond has been outstanding for 6 years and is currently trading at 957.87 in the market. Compute the bonds duration.
If a state passes a law requiring long haul truckers to use a type of tire not required in other states, a court will apply what test in reviewing whether that requirement will impose, on interstate commerce, an undue burden?