USE THE INFORMATION BELOW FOR THE FOLLOWING PROBLEM(S)

question 81

Multiple Choice

USE THE INFORMATION BELOW FOR THE FOLLOWING PROBLEM(S)
Talmart Corporation bonds have a $1,000 face value and will mature in four years. The bonds have a 7 percent coupon rate. Interest is paid annually, and the required rate of return is 6 percent for these bonds.
-Refer to Exhibit 13.2. What is the Macaulay duration of the Talmart corporate bonds?

• A) 3.43
• B) 3.64
• C) 3.76
• D) 3.85
• E) 4.11