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5. A $1,000 par value, 5% annual coupon bond matures in 4 years. The bond is currently priced at $965.35 and has a YTM of

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5. A $1,000 par value, 5% annual coupon bond matures in 4 years. The bond is currently priced at $965.35 and has a YTM of 6.0%. What is the Macaulay duration? A) .43 years B) 3.68 years C) 2.81 years D) 4.00 years

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