An 8% coupon bond with a par value of $1,000 and a maturity of 3 years has a yield to maturity of 9.02%. Coupons of the bond are paid annually. What is the modified duration of this bond?

a.

2.9145 years

b.

2.5503 years

c.

2.6875 years

d.

2.4490 years

e.

None of the options.