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A 10-year semiannual payment bond with a par value of $1,000 has a 8% coupon annual rate. Currently this bond is selling at par. If

A 10-year semiannual payment bond with a par value of $1,000 has a 8% coupon annual rate. Currently this bond is selling at par. If the Federal Reserve announces a QE, and therefore interest rates unexpectedly fall; this bond's YTM drops by 75 basis points. What is the bond's duration post QE?

a. 6.15 years

b. 7.15 years

c. 7.75 years

d. 6.75 years

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