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A portfolio holds four bonds with durations of 7.3, 4.2, 3.1, and 12.2 with market values for each in the portfolio at $5 million, $3

A portfolio holds four bonds with durations of 7.3, 4.2, 3.1, and 12.2 with market values for each in the portfolio at $5 million, $3 million, $3 million, and $2 million, respectively. What is the duration of the bond portfolio?

a)4.87

b)5.37

c)6.37

d)5.87

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