The johnson national bank has purchased a bond that has a, Financial Management

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The johnson national bank has purchased a bond that has a

The Johnson National Bank has purchased a bond that has a coupon rate of 5.5% and a face value of $1000. It has 4 years to maturity and is selling in the market for $917. The bond makes annual coupon payments. What is the duration of the bond? A) 5.5% B) 4.0% C) 1.5% D) 8% E) None of the above Show work

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