Multiple Choice
The numbers provided are in millions of dollars and reflect market values: 
The short-term debt consists of 4-year bonds paying an annual coupon of 4 percent and selling at par. What is the duration of the short-term debt?
A) 3.28 years.
B) 3.53 years.
C) 3.78 years.
D) 4.03 years.
E) 4.28 years.
Correct Answer:
Verified
Correct Answer:
Verified
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