ABC company invested in 3 years bond X and 5 years bond Y. The face value of bond X is $1,000 and the face value of bond Y is $2,000, coupon rate is 6% and 5% respectively. Yield to maturity of bond X 6% and yield to maturity bond Y is 6%. The coupon period per year is 1 for both bonds. Company ABC follows the quasi-active strategy. Follow the above information to calculate the modified duration of bond X and bond Y?

A - Modified duration of bond X is 4.87 & Modified duration of bond Y is 2.00. B - Modified duration of bond X is 2.67 & Modified duration of bond Y is 4.28. C - Modified duration of bond X is 2.88 & Modified duration of bond Y is 3.43. D - Modified duration of bond X is 3.33 & Modified duration of bond Y is 5.03.