An insurance company is analyzing two bonds and is using duration as the measure of interest rate risk. Both the bonds trade at a yield to maturity of 8 percent, have $10,000 par values, and have five years to maturity. The bonds differ only in the amount of annual coupon interest that they pay: 5 and 7 percent. What is the duration for each five-year bond? Select one: O a. None of the other three answers O b. Duration of first bond= 3.28 y. Duration of second bond = 3.16 y c. Duration of first bond 4.28 y. Duration of second bond = 4.16 y d. Duration of first bond= 2.28 y. Duration of second bond = 2.16 y