A bond with a 2-year maturity has a coupon rate of 4% and a face value of $1,000. The coupons are paid annually and the next coupon is due in one year. The bonds yield to maturity is 4%. What is this bonds Modified Duration?

		a) 1.67
		b) 1.74
		c) 1.81
		d) 1.89
		e) 1.97