a. What is the duration of a two-year bond that pays an annual coupon of 10 percent and has a current yield to maturity of 12 percent ? (Do not round intermediate calculations. Round your answer to 2 decimal places. (e.g., 32.16)) b. What is the duration of a two-year zero-coupon bond that is yielding 11.5 percent ? Use 1,000 as the face value.

a. Duration ______ Years

b. Duration ______ Years