A portfolio consists of the following 2 investments

1) a bond with face value of $100 paying annual coupons of 6% maturing in 5 years

2) an annuity with payments of $40 at the end of each year for 5 years

The portfolio comprises of 29% bond and 71% annuities.

The term structure is flat and the current yield is 10% pa effective.

Calculate the duration of the portfolio, give your answer to 2 decimal place.