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A 5-year bond costs $3,000 today. It will pay an unusual set of coupons: $250 interest...

A 5-year bond costs $3,000 today. It will pay an unusual set of coupons: $250 interest at the end of the first year, $500 after year 2, $750 after year 3, and $1,000 after year 4, and $4,250 at the end of year 5. If the yield curve is flat at 6.0%, what is the Macaulay duration of this bond?

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