60. Assume that you have just purchased a 2-year, $1,000 corporate bond that pays interest of $40.00 every six months and has an annual yield to maturity of 10.0%. Given this information, determine the duration (on an annual basis) for this bond. (Hint: remember to convert your duration from a 6-month basis to an annual basis.) ABCD A. B. C. D. 1.9884 Years 1.9381 Years 1.8852 Years 1.7999 Years

60. Assume that you have just purchased a 2-year, $1,000 corporate bond that pays interest of $40.00 every six months and has an annual yield to maturity of 10.0%. Given this information, determine the duration (on an annual basis) for this bond. (Hint: remember to convert your duration from a 6-month basis to an annual basis.) A. 1.9884 Years B. 1.9381 Years C. 1.8852 Years D. 1.7999 Years