3.Garnet & Gold (G&G) is the world's largest publications firms. Four years ago G&G issued a $1,000 par value bond. The

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3.Garnet & Gold (G&G) is the world's largest publications firms. Four years ago G&G issued a $1,000 par value bond. The

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3 Garnet Gold G G Is The World S Largest Publications Firms Four Years Ago G G Issued A 1 000 Par Value Bond The 1
3 Garnet Gold G G Is The World S Largest Publications Firms Four Years Ago G G Issued A 1 000 Par Value Bond The 1 (164.53 KiB) Viewed 27 times
3.Garnet & Gold (G&G) is the world's largest publications firms. Four years ago G&G issued a $1,000 par value bond. The bond had the following characteristics: 30-year maturity Interest is paid annually (coupon rate of 6.5%) Callable (original call protection period was 10 years) If the bond is called, the firm will pay a $75 premium (i.e. callable at $1,075). The current price of the bond is $940.87. The yield to maturity is 7%. Calculate the duration of this bond.
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