A bond has the following trading data: Coupon rate = 7 1/4%; Current price = 107.78125% of par; Maturity = 2 years. Bonds such this pay interest semiannually.

DURATION. Calculate the duration of this bond. Be sure to store your intermediate data as you calculate your final answer.

Question options:

1)	1.934 years

2)	1.907 years

3)	1.852 years

4)	None of the above