A corporate bond has 2 -year maturity and pays annual coupons at 8% If the YTM is 7\%, what is the Macaulay's duration of this bond? \begin{tabular}{|l|} \hline .05 \\ \hline 2.00 \\ \hline 1.93 \\ \hline 1.11 \\ \hline \end{tabular}